Reserve Bank Of India Keeps Repo Rate Unchanged Post Demonetisation

The Reserve Bank of India on Wednesday announced that the repo rate would remain unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. Governor Urjit Patel announced that the central bank has decided to withdraw the incremental Cash Reserve Ratio (CRR) from December 10. In its policy review, the RBI also lowered GDP growth estimate to 7.1 per cent in 2016-17 from an earlier projection of 7.6 per cent.

 

 

  1. N
    Nambirajan
    Dec 9, 2016 at 8:47 am
    The Reserve Bank Official fumbled when a question was asked about the old currency received by the banks. After some time, Governor confirmed a figure. However, the RBI has not come out with the stock figure as on 8-11-2016 of Rs./500 and Rs.1000 currencies in banks and currency Chests. If this figure is revealed, the total currency, including the stock as on 8-011-2016 and those which have been received till date, will be almost near the total currency in Circulation. The stock position as on 1-10-2016 and 8-11-2016 will also give some ideas as to whether the demonetization news were known prior to 8th November .
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