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The rupee inched up 3 paise to 72.93 against the US dollar in opening trade on Friday amid a firm trend in the domestic equity market and RBI’s decision to leave key interest rate unchanged.
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Volatility gauge India Vix rises 2.10% to 23.61
Rate sensitive stocks in sectors such as realty, banks were trading higher as the six-member monetary policy committee (MPC) of the Reserve Bank of India, headed by Governor Shaktikanta Das, on Friday maintained status quo on the policy rates in its last bi-monthly meeting of the current financial year.
Catch key highlights of the RBI Governor’s post-MPC meeting statement here.
MPC Review: RBI to ensure adequate liquidity in system, says Governor
- Evolved understanding with market towards cooperative solutions during coronavirus pandemic
- Maintenance of financial stability, orderly evolution of yield curve was explicitly regarded as “public good”
- Stance of liquidity management continues to remain accommodative and in consonance with policy stance
- Will ensure adequate liquidity in the system
Consumer inflation seen at 5.2% in Jan-Mar quarter: Shaktikanta Das
Inflation determined by Consumer Price Index is seen at 5.0-5.2% in the first half of FY22, the RBI Governor said.
Stance on liquidity management continues to remain accommodative: RBI Governor Shaktikanta Das after bi-monthly MPC meeting
Here are key highlights of what the RBI Governor said:
- Projected increase in government’s capex augurs well for investment demand, for improving credibility of quality of spending
- Active supply intervention contributed to lowering of inflation in Dec
- Outlook for core inflation is influenced by cost-pushed pressures
- Concerted policy action by both Centre and states is critical to ensure ongoing cost build-up does not accelerate
- Allowing retail investors together with HTM relaxation will facilitate smooth completion of govt’s borrowing programme in FY22
- Going ahead, Indian economy is poised to move in only one direction, that is upwards
- In FY22, will undo damage that COVID inflicted on the economy (CATCH MORE HIGHLIGHTS HERE)
Atmanirbhar stimulus given earlier has started working its way through: Shaktikanta Das
Budget has provided a strong impetus for revival of health and infra sectors, says RBI Governor
According to the findings of a survey, there is further sequential improvement in loan demand, the RBI Governor said. The Union Budget will reinvigorate domestic demand, he said.
RBI Monetary Policy Review: GDP growth projected at 10.5% in 2021-22, says Shaktikanta Das
RBI Monetary Policy Review:…
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