RBI MPC

All that happened in the markets today

The RBI will constitute an Expert Committee which shall make recommendations on the required financial parameters, along with the sector specific benchmark, to be factored into debt resolution plans

Lenders allowed to provide a restructuring facility on some loans that were standard as on March 1 this year

The Monetary Policy Committee (MPC), headed by the RBI Governor, is scheduled to meet for three days beginning August 4 and will announce its decision on August 6

Demand impact will continue to weigh heavily on economic activity for some time, says Shaktikanta Das, but is optimistic about rural economy due to good farm harvest

The RBI has extended moratorium period by another three months till August 31, 2020.

The three-month moratorium on payments of term loan instalments (EMI) and interest on working capital give much-desired relief, she added

The repo rate has come down by 75 basis points to 4.4 per cent, while the reverse repo rate has been lowered by 90 basis points to 4 per cent now

In India, growth outlook over the next couple of quarters has become more uncertain on the prospects of a global recession and severe investor risk aversion.

The coronavirus outbreak has brought a large part of the world's second-largest economy China to a standstill and its impact has been felt across industries

The MPC's action has not surprised as CPI inflation for December left little room for a rate cut

The RBI has cumulatively cut the repo rate by 135 basis since February 2019 to a nine-year low of 5.15 per cent

The monetary policy committee (MPC) kept the policy repo rate unchanged at 5.15 per cent, continuing with the accommodative stance to revive growth

Following the November print of 5.54%, RBI had sprung a surprise and opted to hold the repo rate at 5.15 per cent. It, however, continued with the accommodative stance as long as it was necessary.