Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
December 12, Tuesday 2017 12:03 PM       

       HEADLINES: Ockhi: Govt confirms death toll to be 38                                              Neela kurunji: Immigrant farmers needn’t worry, says E Chandrasekharan                                              No issues between CPI and CPM: M M Mani                                              Ockhi: On more dead body brought to land                                              Lavalin case postponed based on request by accused                                              Rahul set to take over Congress' reins on Dec 16                                              Three Pak terrorists neutralised in J-K                                              Sushma Swaraj meets Chinese Foreign Minister Wang Yi                                              Senior advocate gives up court practice after heated exchange with CJI                                              Rumours over; Anushka Sharma, Virat Kohli get married in Italy                                              Putin orders partial Russia troop withdrawal from Syria                                              Leader supporting Gaza terrorists cannot dictate me: Netanyahu                                              Afghan Army kills 76 Taliban militants in five days                                              Left Alliance dominate vote count in Nepal polls                                              Hamilton Test: Kiwis reduce Windies to 30-2 after Taylor's landmark ton                                              BCCI revokes ban on Rajasthan Cricket Association                                              Kaumudi Facebook
       BUSINESS Next Article: RBI asks banks to lower rates further  
       RBI rate cut important step for sustained growth: FinMin
 
         Posted on :22:07:21 Aug 2, 2017
   
A A
       Last edited on:22:07:21 Aug 2, 2017
         Tags: RBI rate cut important step for sustained gro
 
New Delhi: The finance ministry on Wednesday said the RBI's decision to cut key policy rate by 0.25 per cent is an important step to achieve sustained growth consistent with moderate inflation and India's potential.
 
The Reserve Bank, in its third bi-monthly monetary policy of the fiscal, on Wednesday reduced the repo rate after a gap of almost 10 months.
 
The new repo rate at 6 per cent is the lowest in six- and-a-half years. The last rate cut was effected in October 2016.
 
RBI Governor Urjit Patel said the central bank has maintained the economic growth projection at 7.3 per cent for the current fiscal.
 
Commenting on the central bank's decision, Economic Affairs Secretary Subhash Chandra Garg said the government welcomes the repo rate cut.
 
The government has taken note of the statement of the Monetary Policy Committee (MPC) and its assessment of the inflation and growth outlook, he added.
 
"We welcome the 25 basis points cut in the repo rate as an important step necessary to converge towards the appropriate real monetary conditions for sustained growth consistent with India's potential and for stable, moderate inflation," Garg said.
 
The government had been pitching for a rate cut to boost economic growth amid retail inflation falling to a historic low of 1.54 per cent in June.
 
The monetary policy statement was arrived after a two- day meeting of the MPC headed by RBI Governor Urjit Patel.
 
The MPC has decided to keep the policy stance neutral and to watch incoming data with a view to keeping headline inflation close to 4 per cent.
 
The MPC has also decided to keep the policy stance neutral and to watch incoming data with a view to keeping headline inflation close to 4 per cent.
 
It has stressed on urgent need to reinvigorate private investments, clear infrastructure bottlenecks and provide a major thrust to the Pradhan Mantri Awas Yojana.
 
The RBI said it is working in close coordination with the government to resolve large stressed corporate borrowings and recapitalise public sector banks.
A A
       BUSINESS
Next Article: RBI asks banks to lower rates further
 
 
BUSINESS HEADLINES
Increase social security pension in budget: Experts to FM  
Sensex zooms 195 pts on strong global cues  
Air India seeks Rs. 1,100 cr loan to modify planes for VVIPs  
More participation of private enterprises needed in Aerospace sector  
ASSOCHAM calls for greater attention to agri sector  
Consumers yet to see reduced MRP stickers post GST rate cut  
Top 5 Fintech companies to look out for in 2018  
Govt hints at reviewing rates in top GST bracket  
Sensex soars 301 pts, reclaims 33,000-mark  
Sensex surges 246 pts, Nifty above 10,200  
'Korean companies keen on investing in Andhra Pradesh'  
Sensex rebounds 149 points in early trade  
RBI leaves key rate unchanged; retains growth forecast at 6.7%  
Food security, farmers' subsidy top priority in WTO meeting: Suresh Prabhu  
Top Indian startups on hiring spree: Report  
Bitcoin rally: RBI again warns users of risks  
Gadkari orders to release Rs 381 crore for Polavaram Hydro Project  
Sensex ends lower ahead of RBI policy call  
Gold futures fall by Rs 198 on profit-booking, global cues  
Sensex breaks 4-day fall on value buying  
Patanjali to invest in Uttar Pradesh  
Nissan prods India for Rs. 4968 cr in redress over broken tax-break promise  
Infosys appoints Salil S Parekh as CEO & MD  
Manmohan Singh downplays 6.3% GDP growth  
Trump, Modi speak over phone; express satisfaction over GES  
 
Is the on-going IFFK well organised?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy