The RBI governor defended his protracted rate pause and lengthy accommodative stance as a compulsion brought by the pandemic
'There is no blanket ban on opening of current accounts', said M Rajeshwar Rao
RBI extended the on-tap targeted long term repo operations (TLTRO) scheme till December 31
Bankers said this move comes as a support to stressed firms from sectors like tourism, real estate, hospitality and others hit badly by second wave
The Reserve Bank of India (RBI) sounds relatively more confident on growth now and, at the same time, its concerns on inflation are clearly higher
Growth commentary is more positive than last policy with rural demand expected to be resilient, exports expected to continue to do well and pick-up in the long awaited capex cycle
Live updates: Monetary policy committee's decisions being read out by RBI governor Shaktikanta Das
This was the seventh consecutive occasion when the central bank maintained a status quo on policy rates
Policy makers voted 5-1 in favor of keeping the stance accommodative, a departure from the past when they were unanimous on the need to support growth amid the pandemic.
Six-member Monetary Policy Committee is meeting amid weak indicators raising doubts about the economy's ability to sustain a nascent recovery
RBI should give a near-term road map for policy normalisation
Retail inflation came at 6.30 per cent in May, and 6.26 per cent in June -- both above the upper limit of the RBI's target
Inflation is showing signs of stickiness, but it is only a "transitory hump" that should moderate in the third quarter, he said.
The model suggests that interest rates can be kept low for the greater good.
RBI's primary mandate should remain inflation targeting
Ignoring it for long could increase longer-term costs
RBI should not underestimate risks
Repo rate stays at 4%, stance accommodative; Central bank to buy Rs 1.2 trillion of bonds in Q2
This time, RBI's rate-setting body is not only talking about sustaining growth but also reviving it
NACH to be available on all days of week from August 1, says RBI