6 Aug 2020

RBI Governor Address Today

Reports are coming that RBI Governor Shaktikanta Das in his report, says that repo rate remains unchanged at 4%.  RBI is perhaps the only Central Bank in the World which has set up a special quarantine facility for continuity of critical operations.

Reports are also coming that taking into consideration all factors , the GDP growth in the first half of the year is estimated to remain in the contraction zone. And for the year 2020-21 as a whole , the real GDP is also estimated to be negative as per the reports published by Reserve Bank of India governor Shaktikanta Das.

According to the reports of Monetary Policy Committee noted that in India too, economic activity has started to recover but surges of fresh infections have forced fresh lockdown hence several high frequency indicator have leveled off. 

Also accommodative stance of monetary policy will continue as long as necessary to revive growth and mitigate the impact of covid-19 pandemic while ensuring that inflation remains within the target going forward. Reports are also coming that reverse repo rate remains unchanged at 3.3 %. 

RBI Governor also address that with covid-19 infections rising under fragile microeconomic and financial conditions , purpose to take regulatory and development and measures will enhance liquidity support for financial market , ease financial stress caused by Covid-19 while strengthening credit discipline. Also improves the flow of credit deepen digital payment systems and facilitate innovations by leveraging technology.

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