RBI Monetary policy LIVE: FY21 GDP contraction outlook revised to 7.5%

RBI Monetary policy LIVE updates: MPC voted unanimously to keep rates unchanged, said RBI governor Shaktikanta Das. Stay tuned for all the LIVE updates

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.

Stay tuned for RBI Monetary policy LIVE updates

11:05 AM

Economy recuperating faster with more sectors joining recovery path, says RBI Governor Das

10:50 AM

Governor Shaktikanta Das proposes to put in place a criteria for NBFC dividend distribution, introduces risk-based audit in large NBFCs & co-op banks

10:47 AM

Sensex hits 45,000 for the first time

10:40 AM

RTGS will soon be made 24X7 in next few days, says RBI governor

10:28 AM

Business sentiment of manufacturing firms is gradually improving, says Shaktikanta Das

Private investment is still slack; capacity utilisation has not fully recovered, he says.

10:27 AM

RBI Monetary policy LIVE updates: Marginal standing facility and bank rate remains unchanged at 4.25 per cent

10:26 AM

RBI Monetary policy LIVE updates: Nascent signs of recovery visible in second half of FY21, says RBI governor

10:25 AM

RBI Monetary policy LIVE updates: Recovery in rural demand is expected to strengthen further, says RBI Guv

Recovery in rural demand is expected to strengthen further while urban demand further gaining momentum, says RBI governor Shaktikanta Das

10:25 AM

RBI Monetary policy LIVE updates: CPI inflation seen at 6.8% for Q3 and 5.8% for Q4

10:22 AM

Real GDP growth for FY21 is projected at -7.5%. Q3FY21 GDP is seen at +0.1% while Q4FY21 GDP is seen at +0.7%: RBI

10:21 AM

RBI Monetary policy LIVE updates: Corporate bond spreads have narrowed to pre-covid levels, says Shaktikanta Das

Overall bond market conditions have evolved in an orderly manner and bond issuances have strengthened for those with strong credit ratings.

10:12 AM

RBI Monetary policy LIVE updates: MPC is of the view that inflation is likely to remain elevated”, says RBI Governor

Shaktikanta Das also adds that further efforts are necessary to mitigate inflationary pressures.

10:09 AM

RBI Governor Shaktikanta Das says reverse report rate remain unchanged at 3.35

10:07 AM

RBI Monetary policy LIVE updates: RBI maintains accommodative stance for this year and next, says Shaktikanta Das

10:04 AM

RBI Monetary policy LIVE updates: MPC voted unanimously to keep rates unchanged, says Shaktikanta Das