Tuesday, November 24, 2020
Home Business Reserve Bank Of India cuts repo rate by 25 bps to...

Reserve Bank Of India cuts repo rate by 25 bps to 7.5 per cent from 7.75 per cent

NEW DELHI: Reserve Bank of India on Wednesday cut repo rate by 25 bps to 7.5 per cent from 7.75 per cent earlier. Consequently, the reverse repo rate under the LAF stands adjusted to 6.5 per cent.

Going forward, the RBI will seek to bring the inflation rate to the mid-point of the band of 4 +/- 2 per cent provided for in the agreement, i.e., to 4 per cent by the end of a two year period starting fiscal year 2016-17.

RBI kept the CRR of of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL); It will continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system through auctions.

The softer readings on inflation are expected to come in through the first half of 2015-16 before firming up to below 6 per cent in the second half, the central bank said in a statement.

currency-166483_1280

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,783FollowersFollow

Most Popular

Snapchat Releases Spotlight, To Pay Top Creators

Taking on TikTok, Popular photo-messaging platform Snapchat on Monday officially released Spotlight where Snapchatters will also have the opportunity to earn as they do...

Care For COVID+ Mothers and Newborn Babies

Many COVID-19 positive pregnant women experience mild symptoms of cold or flu. However, pregnant women who are older, overweight, or have pre-existing medical conditions...

MP Govt To Produce Clean Fuel From Stubble Burnt

The Madhya Pradesh government has proposed a plan to set up an industrial unit producing fuel from stubble burnt by the farmers in the...

Felling of 315 Trees When Air Quality is Worse in Delhi

The Delhi High Court on Monday sought a response from the AAP government and others over a petition against an order for felling of...

Cyber Frauds May Increase in India in 2021: Kaspersky

With more users getting connected to the Internet and entering the digital payments ecosystem, cyber fraud incidents may go up in 2021, a researcher...

UP Marks Record in Production And Sales of Sanitizers

The Yogi Adityanath government in Uttar Pradesh has used the 'opportunity in adversity' concept to create a record of sorts in the production and...

Greater Risks of STI in People Above 45

Researchers have found that people above 45s are at a higher risk of contracting sexually transmitted infections (STIs) than ever before because of society's...

SC Happy About Permanent Commission of Women Army Officers

The Supreme Court on Monday expressed happiness after learning that the Centre has implemented its verdict to grant permanent commission to women officers in...

Recent Comments