21.6 C
Delhi
Saturday, November 28, 2020

Transmission of past policy actions to help ease financial conditions, RBI Guv said in MPC meet

- Advertisement -

Top 50 NBFC are being monitored closely, says RBI GovernorNew Delhi, Oct 24 (IANS): The ongoing transmission of past monetary policy actions would help ease financial conditions further, RBI Governor Shaktikanta Das had said during the previous monetary policy committee meet.

According to the minutes of the MPC meet released on Friday, Das said: “The ongoing transmission of past monetary policy actions would help ease financial conditions further.”

The statement assumes significance as past rate cut transmission will provide lower interest rates which in effect is expected to trigger consumption and economic revival.

Besides, the Governor said that there exists space for future rate cuts if the inflation evolves in line with the expectations.

“This space needs to be used judiciously to support recovery in growth,” he said.

READ ALSO:  Confusion among retailers regarding resumption of business activities

Das said that monetary policy at this stage has to provide adequate support to ensure a robust revival of the economy from the devastating effects of Covid-19, while at the same time ensuring that any persistence of elevated inflation does not lead to unanchoring of inflation expectations.

“With the supply side disruptions that are seen to drive the current inflationary pressures likely to be transient and wane out in months ahead as economy normalises, there is merit in looking through the current high levels of inflation and persevere with the accommodative stance for monetary policy as long as necessary to revive growth on a durable basis,” Das said.

“Moreover, taking into account the projected moderation in inflation and the large output loss, I vote to keep the policy rate unchanged at present and continue with the accommodative stance, during the current financial year and into the next financial year, at the least. This would help to reduce uncertainty and market volatility. This would also enhance confidence in the monetary policy resolve to support the growth recovery process while ensuring that inflation remains within the target,” he added.

READ ALSO:  Google will now alert your contacts if you on a vacation

The penultimate meet of the MPC in 2020 was conducted from October 7 to 9.

Accordingly, the MPC decided to maintain the repo — or short-term lending — rate for commercial banks at 4 per cent on the back of persistently high inflation, fanned in part due to supply side disruptions along with seasonal factors.

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Total FDI inflow during Q2 FY21 stands at $28.1 bn

New Delhi, Nov 28 (IANS) The total foreign direct investment (FDI) during the second quarter of financial year 2020-21 stood at $28.10 billion, out...

Apple patents new MacBook Touch Bar with Force Touch technology

San Francisco, Nov 28 (IANS) Apple is reportedly planning to add Force Touch sensors to the OLED Touch Bar on a future MacBook Pro.A...

Huawei to use liquid lens in its flagship phones: Report

Beijing, Nov 28 (IANS): Chinese smartphone maker Huawei is reportedly in the final stage of testing the liquid lens for flagship phones which is supposed...

Farmers’ stir chokes various points near Delhi-Haryana border

New Delhi, Nov 28 (IANS) The traffic movement at various points near the Delhi-Haryana border was affected on Saturday as farmers continued to lay siege...

Bharat Biotech working with ICMR for speedy progress: PM

Hyderabad, Nov 28 (IANS) Prime Minister Narendra Modi said Bharat Biotech, a city-based pharmaceutical company, is closely working with the Indian Council of Medical...

Farmers continue to protest at Tikri border, situation peaceful

New Delhi, Nov 28 (IANS) A day after their stand-off with security forces over entry into Delhi, farmers who have travelled from Punjab and...

Trending Topics In India

Covid 19 India Updates

Kerala, Maha, Delhi among 6 states with 61% new Covid cases detected every day

By Rajnish Singh, (IANS) Kerala, Maharashtra and Delhi are among top six states which are accountable for contributing 61 per cent new Covid-19 cases on daily basis in India,...

Kerala, Maha, Delhi among 6 states with 61% new Covid cases detected every day

By Rajnish Singh, (IANS) Kerala, Maharashtra and Delhi are among top six states which are accountable for contributing 61 per cent new Covid-19 cases on daily basis in India,...

Looking at vaccine manufacture, delivery ecosystem: Harsh Vardhan

New Delhi, Nov 25 (IANS) At a time the world is racing against time to find a safe and effective vaccine against Covid-19, Union...

Apollo Hospitals gearing up to give one million vaccines a day

New Delhi, Nov 25 (IANS) Apollo Hospitals are gearing up to give one million vaccines a day once it is available across India through...

Over 88% Indians know at least one Covid infected person: Survey

New Delhi, Nov 25 (IANS) With over nine million coronavirus cases in India, 88 per cent citizens now have one or more contacts in...

Covid-19 second wave may be a tsunami, warns Thackeray

Mumbai, Nov 22 (IANS) With Covid-19 cases again surging in some parts of the the country, Maharashtra Chief Minister Uddhav Thackeray on Sunday hinted...

Trending News In India

Total FDI inflow during Q2 FY21 stands at $28.1 bn

New Delhi, Nov 28 (IANS) The total foreign direct investment (FDI) during the second quarter of financial year 2020-21 stood at $28.10 billion, out...

Apple patents new MacBook Touch Bar with Force Touch technology

San Francisco, Nov 28 (IANS) Apple is reportedly planning to add Force Touch sensors to the OLED Touch Bar on a future MacBook Pro.A...

Huawei to use liquid lens in its flagship phones: Report

Beijing, Nov 28 (IANS): Chinese smartphone maker Huawei is reportedly in the final stage of testing the liquid lens for flagship phones which is supposed...

Farmers’ stir chokes various points near Delhi-Haryana border

New Delhi, Nov 28 (IANS) The traffic movement at various points near the Delhi-Haryana border was affected on Saturday as farmers continued to lay siege...

Bharat Biotech working with ICMR for speedy progress: PM

Hyderabad, Nov 28 (IANS) Prime Minister Narendra Modi said Bharat Biotech, a city-based pharmaceutical company, is closely working with the Indian Council of Medical...

Farmers continue to protest at Tikri border, situation peaceful

New Delhi, Nov 28 (IANS) A day after their stand-off with security forces over entry into Delhi, farmers who have travelled from Punjab and...

Trending Showbiz

Indian Award shows should include films released on OTT: Bhumi

Mumbai, Nov 27 (IANS) Actress Bhumi Pednekar is not new to the web space, her film Dolly Kitty Aur Woh Chamakte Sitare dropped on...

Sanjay Dutt’s new film ‘Torbaaz’ discusses terrorism with human angle

Mumbai, Nov 26 (IANS) Filmmaker Girish Malik, who directs Sanjay Dutt in his new film Torbaaz, says he wanted to show a story of...

Gear up for India’s first ever OTT awards

By Puja Gupta, (IANS) Fans across the globe now have a chance to engage with OTT entertainment content and stars digitally; they can and...

Malayalam film ‘Jallikattu’ is India’s entry for Oscars 2021

Mumbai, Nov 25 (IANS) The Malayalam film, Jallikattu, has been selected as the official Indian entry in the Best International Feature Film category at...

Kabaddi is a sport, can’t be played well without teamwork: Abhishek Bachchan

Mumbai, Nov 24 (IANS) Abhishek Bachchan, who owns the Kabaddi team Jaipur Pink Panthers, says the upcoming docu-feature, Sons Of The Soil: Jaipur Pink...

Television actor Ashiesh Roy passed away

Mumbai, Nov 24 (IANS) Television actor Ashiesh Roy passed away in Mumbai early on Tuesday. The Sasural Simar Ka actor died of kidney failure...

Trending Sports

Premier Badminton League season 6 postponed due to Covid-19

New Delhi, Nov 27 (IANS) The sixth season of the Premier Badminton League (PBL), which was scheduled to take place in late December, has...

Kohli hits out at team for not getting into ODI mode from T20

New Delhi, Nov 27 (IANS) India skipper Virat Kohli hit out at his team for not getting into 50-over format rhythm for the ongoing three-match...

Australia outscore India, take 1-0 lead in ODI series

Sydney, Nov 27 (IANS) Australia defeated India by 66 runs in the first One-day International at the Sydney Cricket Ground on Friday to take...

Excited to be back playing in front of crowds: Kohli

Sydney, Nov 26 (IANS) Rival skippers Virat Kohli of India and Aaron Finch of Australia on Thursday expressed relief and joy at the prospect...

1986 World Cup quarter-final: Maradona becomes immortal

New Delhi, Nov 26 (IANS) “I dream of being able to score another goal against the English, with the right hand this time!” said Diego...

Football legend Diego Maradona, 60, dead

Buenos Aires, Nov 25 (IANS) Football legend Diego Maradona has died, aged 60, according to Argentine media reports. He had been discharged from hospital...

Latest Trending News In India

Apple patents new MacBook Touch Bar with Force Touch technology

San Francisco, Nov 28 (IANS) Apple is reportedly planning to add Force Touch sensors to the OLED Touch Bar on a future MacBook Pro.A...

Huawei to use liquid lens in its flagship phones: Report

Beijing, Nov 28 (IANS): Chinese smartphone maker Huawei is reportedly in the final stage of testing the liquid lens for flagship phones which is supposed...

Farmers’ stir chokes various points near Delhi-Haryana border

New Delhi, Nov 28 (IANS) The traffic movement at various points near the Delhi-Haryana border was affected on Saturday as farmers continued to lay siege...

Bharat Biotech working with ICMR for speedy progress: PM

Hyderabad, Nov 28 (IANS) Prime Minister Narendra Modi said Bharat Biotech, a city-based pharmaceutical company, is closely working with the Indian Council of Medical...