RBI cuts key lending rate to boost growth – Social News XYZ

The RBI today kept policy rate unchanged at 6 per cent as was widely expected in view of upward trend in inflation even as it cut the growth forecast to 6.7 per cent for the current fiscal.

The reduction in lending rate by the bank follows a 25 basis points cut in repo rate by the RBI in its first monetary policy review announced last week. In the February policy review also, the.

That would take the RBI’s repo rate to 6.00 percent, its lowest since the middle of last year. Another easing would be welcome news for Prime Minister Narendra Modi’s government, which wants to boost.

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RBI rate cut comes at a time when India’s Q4FY19 GDP growth rate reduced to 5.8 percent, a five year low under the Modi government. Even though inflation has remained very much under control, the liquidity had been in deficit mode for the past few months.

The RBI’s rate setting panel Tuesday started its 3-day deliberations for the first bi-monthly monetary policy of 2019-20 amid expectations of a cut in key lending rate by another 25 basis points.

With today’s cut, the RBI lowered the key interest for third time in a row to a level last seen in September 2010. RBI Cuts Rate To Lowest In 9 years To Boost Growth, Loans May Get Cheaper

RBI cuts key lending rates by 25 basis points The reverse repo, the rate which banks get for parking funds with RBI, has been readjusted accordingly by similar percentage point to 5.75 per cent.

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RBI cuts key lending rate to boost growth thu, Jun 6 2019 12:40:09 PM Mumbai, Jun 6 (IANS): Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent.

RBI should have cut interest rate to boost growth: India Inc The RBI Wednesday kept policy rate unchanged at 6 per cent as was widely expected in view of upward trend in inflation even as it cut the growth forecast to 6.7 per cent for the current fiscal.

For 2nd time in 2019, RBI cuts repo rate by 25 bps forget transmission, some banks have raised lending rates since last repo cut Bold steps needed to boost the economy