Search your Topic HERE....

February 07, 2019

RBI cuts Repo Rate by 25 bps to 6.25 : RBI Monetary Policy Review 2019 Highlights

Leave a Comment

sponsored links

In it's Sixth bi-monthly monetary policy review 2018-19, the six member Monetary Policy Committee (MPC) headed by the Reserve Bank Governor Shakti Kanta Das today lowered the Repo Rate by 25 basis points to 6.25 per cent. This is for the first time since August 2017. Meanwhile, the Reverse repo rate stands adjusted at 6%. Here are the major highlights of the Reserve Bank of India's Sixth bi-monthly monetary policy statement of 2018-19.

Highlights of RBI's 6th bi-monthly monetary policy statement of 2018-19

  • RBI cuts key lending rate (repo) by 0.25 per cent to 6.25 per cent.
  • Reverse repo rate cut to 6 pc, bank rate to 6.5 per cent, CRR unchanged at 4 per cent
  • Headline inflation estimates revised down to 2.8 per cent in March quarter, 3.2-3.4 per cent in first half of next fiscal and 3.9 per cent in Q3 of FY'20
  • Projects GDP growth to accelerate to 7.4 per cent next fiscal, from 7.2 per cent in 2018-19
  • Pegs April-September growth in range of 7.2-7.4 per cent, and 7.5 per cent in Q3 of 2019-20
  • Oil price outlook hazy, trade tensions to weigh on global growth prospects
  • Union budget proposals to boost demand by raising disposable incomes
  • To revise definition of bulk deposits as single rupee deposits of Rs. 2 crore and above from Rs. 1 crore currently
  • To issue guidelines to harmonise major categories of NBFCs
  • Proposes to set up a task force on Offshore Rupee Markets to ensure Rupee value stability
  • Removes restrictions on Foreign Portfolio Investors investing in corporate debt market
  • To come out with discussion paper on Payment Gateway Service Providers and Payment Aggregators
  • Hikes limit of collateral-free agricultural loans to Rs. 1.6 lakh from Rs. 1 lakh, to help small and marginal farmers
  • Constitutes Working Group to review agricultural credit
  • Monetary policy committee votes 4:2 in favour of rate cut, unanimous on change in stance
  • 2 MPC members Chetan Ghate and Viral Acharya were for status quo in rates
  • Next meeting of the Monetary Policy Committee (MPC) will be during 2nd to 4th April 2019.

Current RBI Policy Rates 2019

  • Repo Rate : 6.25%
  • Reverse Repo Rate : 6.00%
  • MSF (Marginal Standing Facility) : 6.50%
  • Bank Rate : 6.50%
  • CRR : 4%
  • SLR : 19.25%

sponsored links

0 Responses:

Post a Comment

Related Posts Plugin for WordPress, Blogger...