RBI keeps repo rate unchanged at 6.5% in monetary policy review meeting
06 December, 2018, 05:41 | Author: Regina Silva
The central bank also introduced proposals to improve policy rate transmission and credit discipline, besides initiating a predictable liquidity injection over the next six quarters, starting January, through a phased reduction of 25 basis points (bps) every quarter in statutory liquidity ratio (SLR).
Since embarking on a tightening cycle in June, the RBI has raised its policy repo rate by 50 basis points, with the last increase to 6.50 percent made in August.
While the decision on keeping the policy rate unchanged was unanimous, Ravindra H Dholakia voted to change the stance to neutral. CRR is the amount of funds that banks have to keep with the central bank as a proportion of their deposits.
This is for the second time in a row that the central bank did not tinker with the interest rate.
RBI also retained the GDP growth projection for FY19 at 7.4 percent.
At present, the Cash Reserve Ratio (CRR) balance of banks at the end of the day is being disclosed with a lag of 2-3 days, while the details of the currency in circulation are being released with a lag of one week. The growth in Gross Domestic Product (GDP) in July-September is the lowest in three quarters but better than 6.3 per cent in the same period of the previous year. For the H1 of FY20, inflation is projected at 3.8 to 4.2%.
But, there are now clearer economic reasons for India to avoid going higher, analysts say.
The government in turn has been putting pressure on the RBI to ease lending rules and nurse a weakened shadow banking sector at a time when banks laden with bad loans have become hesitant to lend.
Federal Liberals change leadership rules
Prime Minister Scott Morrison will call for new rules to be introduced around the changing of leaders. Immediately after Mr Turnbull's knifing, Mr Rudd called for the Liberal Party to follow Labor.
The group suggested that some commonly-used turns of phrase are anti-animal and that they should be removed and replaced. PETA is encouraging people to embrace more animal friendly language with a list of alternatives to popular phrases.
I need another one of those miracles that I got back in 2013" ― a reference to her overcoming substance abuse that year. Unbroken: Posting a video getting her head shaved on October 15 Jael wrote: "My cancer can't grow as fast as my LOVE".
Cricket Australia took to Twitter to share the pictures of Archie training alongside the team before the start of the first Test. On Archie's arrival at Adelaide Oval, he got his Australian jersey and trained with the side.
For the same reason, Australia's government blocked China's telecom giant Huawei from its 5G mobile network last summer. The report said existing Huawei equipment at the firm's current 3G and 4G networks would also be removed.
Ruben Loftus-Cheek's deflected opener had put Chelsea in control before they slipped to a second straight away defeat. In the last championship in Italy, I lost the title with 91 points [at Napoli], so I know how important it is to win.
Just a few hours later, Ocasio-Cortez responded to the former governor to clarify her statement in relation to her proposed plan. Mike Huckabee - and then went after his daughter. "We did it when no one else thought we could".
Louis rapper and Cardinals fan, was playing with the country duo, and he got a picture with Harper after the show. Harper has plenty of suitors on the free-agent market after bashing 184 homers in his first seven seasons.
And Meyer nearly made it two after 35 minutes - his curled left-footed effort beat Hart but went millimetres wide of the post. Palace dominated the early proceedings and were on the front foot as Burnley struggled to settle into the game.
Huawei the Chinese smartphone giant, touted to be the second biggest Android smartphone firm in terms of smartphone sales. Coming back to the Huawei Nova 4 , it is speculated that the handset will be equipped with an LCD display.
Joshua calls out ‘fool’ Wilder and Fury
WBC heavyweight champion Deontay Wilder "can't wait" to face Tyson Fury again after their controversial draw in Los Angeles. Joshua holds the WBA, WBO and IBF titles, the belts that Fury won when he beat Klitschko in 2015.
Amid US sanctions, Iran threatens again to close key strait
He said the government would maintain subsidies on essential goods and increase public sector wages and pensions by 20 percent. "If one day they want to prevent the export of Iran's oil, then no oil will be exported" from the region, he said.
France mulls wealth tax changes as protests intensify
The Elysée also confirmed the announcement to network France 24. "No tax is worth putting the nation's unity in danger ", he said. French officials said they are created to move the country away from fossil fuels and part of an effort to fight climate change.
Robben to exit Bayern Munich at end of season, says report
In his club's 1-1 draw against FC Augsburg, the Dutchman managed to open the scoring with the most Arjen Robben goal of all time. Netherlands and Bayern Munich legend Arjen Robben has announced that he will leave the club after the end of the current season.