entral banks the world over are likely to cut interest rates from June-July this year to bring real rates closer to the pre-Covid range, according to Morgan Stanley.
The country's largest public sector bank State Bank of India said the monetary policy statement of the RBI reflected India's high growth and low inflation. Reacting to the central bank maintaining the status quo in the repo rate, SBI Chairman Dinesh Khara said
Industry welcomes Reserve Bank of India decisions in its first monetary policy report of FY 25. One of the key highlights of the report is the RBI's decision to maintain the repo rate at its current level, a move that has been widely applauded by industry leaders.
The Reserve Bank of India has proposed the idea of depositing cash in Cash Deposit Machines (CDMs) using UPI mechanism, in what could be another boost to already widely recognised technology.
RBI Governor Shaktikanata Das, while announcing the RBI Monetary Policy Committee outcome on Friday, said that the growth is projected to be at 7.1 per cent in first quarter, followed by 6.9 per cent in second quarter and 7 per cent in both third and fourth quarters.
This is the seventh consecutive meeting that the MPC has maintained a status quo on the repo rate. The repo rate, is the interest rate at which banks draw funds from RBI to overcome short-term liquidity mismatches.
The Sensex declined by 267 points to 73,956, while the Nifty 50 declines 73 points to 22,451 on the early trade during Friday. Despite this, Nifty 50 formed a small negative candle on the daily chart, indicating substantial resistance at new all-time highs.
The first Monetary Policy Committee (MPC) meeting of financial year 2025 will be held on Friday, and the Reserve Bank of India is unlikely to cut rates.
Indian stock market closed in green on Thursday after the Nifty surged 80 points to close at 22514 and Sensex also gained 350 points to close at 74227. During the Thursday's trading session, benchmark equity indices experienced volatility following a surge to new all-time highs, as profit-ta
Experts believe the central bank is very likely to maintain the status quo on interest rates along with caution on inflation and the geo-political outlook
The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicators.