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No change in policy rate, RBI
Posted on: 04/Oct/2017 3:40:48 PM
On Wednesday, the Reserve Bank of India has retained the same interest rates as it looks forward to upside risk to retail inflation. Also, the growth projections are slashed for the present financial year, and the inflation projections are increased.
A monetary policy committee of 6 members had kept the repurchase rate. This is the rate at which the liquidity in banking system is infused. This is kept unchanged at 6 percent.
This is not a ubiquitous decision. One of the three external members of the panel, Ravindra Dholakia stressed on reducing rates by 25 basis points.
The neural policy of central government is maintained the same, but it addresses the sluggish economy activity, lowering fiscal 2018.
MPC statement writes that GST implantation so far seem to have got an adverse impact, making the manufacturing sector prospects uncertain in short term. This may still get delayed with the investment activity revival that is already hampered with stressed balance sheet with banks and corporates.
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