Mumbai: The central bank’s rate-setting panel on Friday kept policy rates unchanged for its 11th straight review meeting, but slashed the cash reserve requirement, which could ease borrowing costs and opens a window to begin the easing cycle in its next meeting. It temporarily lifted the cap on interest rates on US dollar deposits, amid … Read more
Indian lenders have requested the Reserve Bank of India (RBI) not to further increase the cash reserve ratio (CRR) threshold in the upcoming monetary policy to ensure unhindered credit growth amid a visible reduction in surplus liquidity since early May, two people aware of the representations told ET. Indian Banks Association (IBA) made the requests … Read more
The Monetary Policy Committee has, unanimously, opted to maintain the repo rate at 4.00%. With a 5:1 majority, the committee also opted to maintain an accommodative stance in order to support economic growth and recovery, RBI Governor Shaktikanta Das announced on Thursday. This is the tenth consecutive time that the rate has remained unchanged. The … Read more