Monetary policy highlights: Growth not at pre-pandemic level yet, says RBI

RBI Monetary policy highlights: RBI announcement comes against the backdrop of Covid-19 infections receding in recent days and the economy stablising. Stay tuned for all the LIVE updates

RBI governor Shaktikanta Das

10:32 AM

RBI Monetary policy LIVE updates: VRR auctions to be stepped up fortnightly from Rs 4 trillion to Rs 6 trn

Variable Reverse Repo (VRR) auctions to be stepped up fortnightly from Rs 4 trillion to Rs 6 trillion. RBI may complement the 14-day VRR auctions with 28-day VRR auction. Liquidity absorbed in the first week of December under fixed-rate auction to be Rs 2-3 trillion

10:31 AM

RBI Monetary policy LIVE updates: RBI has decided to stop bond purchases under G-SAP, says Shaktikanta Das

The RBI governor said that given the liquidity overhang and the absence of fresh government borrowing for GST compensation means that these bond purchases are not necessary.

The RBI will, however, continue to conduct open market operations as needed.

10:28 AM

The tone of monetary policy will be guided by domestic circumstances and assessment, says RBI

10:28 AM

RBI Monetary policy LIVE updates: Retail inflation during FY22 projected at 5.3%

10:27 AM

RBI Monetary policy LIVE updates: Potential liquidity overhang amounts to Rs 13 trillion, says Shaktikanta Das

Liquidity increased in September to an average of Rs 9 trillion per day against Rs 7 trillion between June and August 2021

Liquidity rose further to Rs 9.5 trillion in October. Potential liquidity overhang amounts to Rs 13 trillion

10:25 AM

RBI Monetary policy LIVE updates: RBI stops G-SAP bond buys

10:24 AM

RBI Monetary policy LIVE updates: In H1 of FY22, Rs 2.73 trillion injected

RBI's MPC voted unanimously to keep policy rates unchanged, and 5:1 to maintain the accommodative stance

10:21 AM

RBI Monetary policy LIVE updates: Marginal Standing Facility Rate and Bank Rate at 4.25%

Economic recovery remains uneven and dependent on continued policy support

10:19 AM

RBI Monetary policy LIVE: Recovery of Indian economy is gaining traction, says Shaktikanta Das

RBI governor Shaktikanta Das said that the recovery of Indian economy is gaining traction. India is in a much better place today. However slack in the economy still remains. Contact intensive sectors are still lagging, the Governor said. Commenting on inflation, Das said that inflation has been below the RBI's projections but core inflation however remains sticky. The evolving situation requires close vigilance, he added. "Efforts to contain cost push pressures through a calibrated reversal of fuel taxes could contribute to lowering of inflation," he said.

10:17 AM

RBI Monetary policy LIVE updates: Growth and Inflation forecast

The RBI has maintained the FY22 GDP growth forecast at 9.5%.

This includes 7.9% in Q2, 6.8% in Q2 and 6.1% in Q4. For Q1 FY23, GDP growth has been pegged at 17.2%.

CPI inflation is projected at 5.3% for the current fiscal year. In Q2, it is seen at 5.1%, 4.5% in Q3 and 5.8% in Q4, with risks broadly balanced.

10:16 AM

RBI Monetary policy LIVE updates: MPC leaves repo rate unchanged for the eighth consecutive meet

The MPC voted 5-1 to retain the accommodative stance as long as necessary to revive and sustain growth on a durable basis, while ensuring that inflation remains within the target.

10:13 AM

RBI Monetary policy LIVE updates: RBI retains 9.5% GDP growth forcast

Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank is positive about 9.5 per cent GDP growth estimate for the current financial year.

10:09 AM