RBI Governor Urjit Patel said with the combined fiscal deficit of the Centre and state governments in the region of over 6 per cent of the GDP, the “national fiscal stance can hardly be described as tight”.
The Reserve Bank kept its repo rate on hold at 6.25 percent for a second straight policy meeting, opting to wait for more clarity on inflation trends and on how a radical crackdown on “black money” is impacting economic growth.
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 […]