RBI monetary policy LIVE: The Monetary Policy Committee (MPC) of the Reserve Bank of India on Friday decided to keep repo rate unchanged at 4 per cent. The reverse repo rate stays at 3.35 per cent. The RBI last changed policy rate on May 22. It maintained the status quo on the benchmark lending rates in view of persistently high inflation and a lower-than-expected contraction of the economy.
The banking regulator has informed commercial and co-op banks to not give out dividends this year and retain all the profits, the governor said. He added that RBI will introduce risk-based internal audits in large urban co-op banks.
Indian markets were trading half a per cent higher in Friday's early morning deals ahead of the announcement of the decision of RBI's monetary policy committee. Read on...
RBI Policy LIVE Updates: Know about MPC voting pattern
In the last policy all members except Jayanth R Varma voted to continue with the accommodative stance for an extended period, or at least till the next financial year, to revive growth on a durable basis while ensuring inflation is within the target.
RBI Policy LIVE Updates: While the MPC may hold the rates, the liquidity front could be where the action takes place.
While the MPC may hold the rates, the liquidity front could be where the action takes place. The abundant liquidity floating around in the system has caused short-term rates to crash.
RBI Monetary policy LIVE updates: Inflation has remained above the upper tolerance level of 6% for seven straight months now
Inflation has surprised on the upside, remaining above the upper tolerance level of 6% for seven straight months now.
Latest GDP number showed that Indian economy saw a sharp recovery in the second quarter
The latest gross domestic product (GDP) number showed that Indian economy saw a sharp recovery in the second quarter from the record decline of 24% in the previous quarter.
RBI Monetary policy LIVE updates: MPC is likely to keep policy rates unchanged
The MPC is likely to keep policy rates unchanged despite the persistent rise in inflation and strong bounce back in recovery.
RBI Governor Shaktikanta Das will announce the policy decision of the Monetary Policy Committee today
RBI Governor Shaktikanta Das will announce the policy decision of the Monetary Policy Committee today at 10:00 am, followed by a press conference at 12:00 pm.
RBI Monetary policy LIVE updates: Interest rate sensitive stocks in focus ahead of RBI's policy decision
Shares from interest rate sensitive auto, banking and realty sectors will be in spotlight ahead of the Reserve Bank of India's (RBI) monetary policy decision today.