Source: Business Wire India

Press Release: RBI : No Surprise as RBI Maintains 'Status Quo': Dr. Niranjan Hiranandani

Business Wire IndiaThe RBI's six-member monetary policy committee (MPC), headed by Governor Urjit Patel, had maintained the status-quo on the key short-term borrowing rate (repo) in its last three policy meets. In what is best described as 'déjà vu', on 05 April too, the MPC maintained 'status quo' and kept unchanged the key repo rate, the rate at which the RBI lends money to commercial banks @ 6 per cent and cash reserve ratio, the amount banks have to mandatorily maintain with the RBI, @ 4 per cent.

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RBI is a central banking institution that formulates, regulates and controls the monetary policy of issuing currency and... Read more