India  

RBI monetary policy: Repo rate unchanged, relief for MSMEs l Key details

Video Credit: HT Digital Content - Duration: 06:03s - Published
RBI monetary policy: Repo rate unchanged, relief for MSMEs l Key details

RBI monetary policy: Repo rate unchanged, relief for MSMEs l Key details

The Reserve Bank of India left the repo rate unchanged at 4% and reverse repo rate at 3.35%.

RBI Governor Shaktikanta Das also said that they would maintain an accommodative stance in view of the Covid pandemic.

Repo rate is the rate at which the RBI lends to commercial banks, and reverse repo is the rate at which it borrows from them.

The Central bank also decided to allow lenders to provide a restructuring facility on some loans that were standard as on March 1, 2020.

'Real GDP growth in the first half of the year is estimated to remain in the contraction zone.

For the year 2020-21 as a whole, real GDP growth is also estimated to be negative,' the RBI Governor said.

Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard, Das added.

The governor also raised the loan-to-value ratio against gold to 90% from current 75%, to mitigate COVID-19 impact on households.

Watch the full video for all the takeaways from the RBI monetary policy announcements.


You Might Like


💡 newsR Knowledge: Other News Mentions

Reserve Bank of India Reserve Bank of India Central banking institution of India

Govt put Air India, Railways, LIC on sale since RBI gone bankrupt: Sanjay Raut [Video]

Govt put Air India, Railways, LIC on sale since RBI gone bankrupt: Sanjay Raut

Shiv Sena firebrand leader Sanjay Raut hit out at the central government in Rajya Sabha over country's economic condition, saying that the centre has put out a sale of Air India, Indian Railways, Life Insurance of Corporation since the Reserve Bank of India has gone bankrupt. "Country's economic condition is very serious. The situation is such now that GDP and RBI have gone bankrupt. So the government has put Air India, Railways, LIC and many other assets on sale in market. And Jawaharlal Nehru Port Trust has been added in this list," Raut said in Parliament on September 17.

Credit: ANI    Duration: 01:55Published
Sensex gains 362 points after RBI keeps rate unchanged [Video]

Sensex gains 362 points after RBI keeps rate unchanged

Equity benchmark indices surged nearly 1 per cent on Thursday after the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 per cent. The BSE S-P Sensex closed 362 points or 0.96 per cent higher at 38,025 while the Nifty 50 gained by 99 points or 0.89 per cent at 11,200. Except for Nifty PSU bank, all sectoral indices at the National Stock Exchange were in the green with Nifty IT gaining by 1.8 per cent, FMCG by 1.4 per cent and pharma by 1.2 per cent.

Credit: ANI    Duration: 01:10Published
Rbi [Video]

Rbi

Rbi

Credit: HT Digital Content    Duration: 06:03Published

Shaktikanta Das Shaktikanta Das retired Indian Administrative Service officer and the governor of the Reserve Bank of India

RBI keeps repo rate, reverse repo rate unchanged [Video]

RBI keeps repo rate, reverse repo rate unchanged

Reserve Bank of India (RBI) on August 06 announced that repo rate and reverse repo rate will remain unchanged. RBI Governor Shaktikanta Das said, "Repo rate remains unchanged at 4% and Reverse repo rate also remains unchanged at 3.35%. Accommodative stance of the 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 target going forward." He further said, "Monetary Policy Committee (MPC) noted that in India too, economic activity had started to recover, but surges of fresh infections have forced fresh lockdowns, hence several high-frequency indicators have levelled off."

Credit: ANI    Duration: 01:47Published
RBI announces regulatory, developmental measures for micro-economic conditions in wake of COVID-19 [Video]

RBI announces regulatory, developmental measures for micro-economic conditions in wake of COVID-19

While media brief, RBI Governor Shaktikanta Das said, "With COVID-19 infections rising under fragile micro-economic and financial conditions, we propose to take regulatory and developmental measures - enhance liquidity support for financial markets, ease financial stress caused by COVID-19 while strengthening credit discipline improve the flow of credit, to deepen digital payment systems and facilitate innovations by leveraging technology."

Credit: ANI    Duration: 01:10Published
For year 2020-21, GDP growth is estimated to be negative: RBI Governor [Video]

For year 2020-21, GDP growth is estimated to be negative: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das briefed mediapersons on Aug 06. He said, "RBI is perhaps the only central bank in the world which has set up a special quarantine facility for continuity of critical operations." He further said, "Taking into consideration all factors, the GDP growth in the first half of the year is estimated to remain in the contraction zone. For the year 2020-21 as a whole, real GDP growth is also estimated to be negative."

Credit: ANI    Duration: 01:09Published

Ministry of Micro, Small and Medium Enterprises Ministry of Micro, Small and Medium Enterprises branch of the Government of India

Unregistered enterprises need to register under Micro industry to get MSMEs benefit: Gadkari [Video]

Unregistered enterprises need to register under Micro industry to get MSMEs benefit: Gadkari

Union MSME Minister Nitin Gadkari on August 16 informed that unregistered enterprises need to register themselves under Micro industry to get MSMEs benefit. "Unregistered enterprises need to register themselves under Micro industry to get the benefit of MSMEs. We are also in the process to cover small traders. We need help from NGOs to encourage such people to register," said Gadkari at Swavalamban e-Summit 2020.

Credit: ANI    Duration: 01:15Published
Rajnath Singh hails ‘Atmanirbhar’ vision after India bans import of 101 items [Video]

Rajnath Singh hails ‘Atmanirbhar’ vision after India bans import of 101 items

Union Defence Minister Rajnath Singh spoke on Prime Minister Narendra Modi’s 'Aatmanirbhar Bharat’ vision. Singh said 'we can save large proportion of money by producing in India'. He inaugurated new projects as part of ‘Atmanirbhar Bharat Week’ celebrations. "PM Modi’s vision is one to boost our self-confidence. We can’t build self-confidence while relying on others. We can’t bring India among top 3 economies if we rely on others. We can save a large proportion of money if we produce in India. We can use the money to boost MSMEs related to Defence industry," the Defence Minister said. Singh on Sunday announced a ban on import of 101 items including weapons. Import of transport aircraft, light combat helicopters, others to be stopped by 2024. Step taken to boost India’s domestic defence industry. The step is in tune with government’s ‘Atmanirbhar Bharat’ initiative. Defence Expert Major General (Retd) Asthana welcomed the step. Asthana said, "No country can be military power unless its self reliant in defence industry. Decision to put ban on 101 items is a first major step towards self-reliance. Importing is costly, you pay in dollars, it can be choked anytime. For Make in India, it cannot be only government or private players. R&D Defence is very costly for private player, investment is risky. Now, certain money has been allocated & collaboration has been accepted. Indian industry can now find a partner with R&D base & manufacture in India.

Credit: HT Digital Content    Duration: 05:18Published
If we manufacture things within India, we'll be able to save large section of capital of country: Rajnath Singh [Video]

If we manufacture things within India, we'll be able to save large section of capital of country: Rajnath Singh

Union Defence Minister Rajnath Singh attended the inaugural session of 'Atma-Nirbharta Week' on August 10. He said, "If we become capable of manufacturing things within India itself, then we will be able to save a large section of the capital of the country. With the help of that capital, around 7000 MSMEs, associated with Defence Industry, can be encouraged."

Credit: ANI    Duration: 01:46Published
Our fight on economic front is as important as fight against COVID-19: Nitin Gadkari [Video]

Our fight on economic front is as important as fight against COVID-19: Nitin Gadkari

Union Minister of Micro, Small and Medium Enterprises (MSME), Nitin Gadkari interacted with members from Bhartiya Udyog Vyapar Mandal on 39th Rashtriya Vyapari Diwas via video conferencing on August 09."Our fight on economic front is as important as the fight against COVID-19. We have to accomplish the mission of making India a USD 5 trillion economy and we have that potential. We have young, talented and skilled manpower," Nitin Gadkari

Credit: ANI    Duration: 01:52Published

Coronavirus disease 2019 Coronavirus disease 2019 Infectious respiratory disease caused by severe acute respiratory syndrome coronavirus 2

PM Modi makes a strong pitch for UN reforms at his UNGA speech

In his speech at the United Nations General Assembly, Indian PM Narendra Modi made a strong pitch for reforms at United Nations and assured New Delhi will help..
DNA

PM Modi raises questions on UN's response in combating Covid-19; assures world of India's vaccine production prowess

Prime Minister Narendra Modi on Saturday raised questions on the response of the United Nations in combating the Covid-19 pandemic, and assured the global..
IndiaTimes
CRPF organizes fitness camp for sportspersons in Srinagar [Video]

CRPF organizes fitness camp for sportspersons in Srinagar

Central Reserve Police Force (CRPF) has organized a fitness camp for sportspersons in Srinagar. The camp has been organized in the amid COVID-19 pandemic with precautions, to get sportspersons back in shape. CRPF has provided basic facilities and infrastructure for the camp. The 21-day camp has been organized with collaboration of an NGO 'Sunrise in Kashmir'. "Due to COVID-19 pandemic we all were staying at home and didn't have any platform for practice. The indoor stadium has also been transfer into COVID facility. We didn't have any equipment to practice, the camp is beneficial for ours physical and mental fitness too," said Munaza Gazi, a Wushu player. "CRPF's Srinagar sector has helped us a lot. We didn't have resources to organize the camp. So they helped us in every possible way," said Afreen Hyder, member of 'Sunrise in Kashmir' NGO. CRPF aims to channelize youth towards sports in the Valley.

Credit: ANI    Duration: 03:40Published

India's vaccine production to help humanity in fighting pandemic: PM Modi hails country's COVID-19 response at UNGA

PM Modi further said in India and in "our neighbourhood, we are moving ahead with phase 3 clinical trials in India" adding, "India will also help all the..
DNA

Related news from verified sources

RBI keeps repo rate unchanged: Key points

The Reserve Bank of India (RBI) on Thursday decided to keep key lending rate unchanged in its August...
IndiaTimes - Published


Tweets about this

LSTrade2

LSTrade Riksbank: Repo Rate Is Held Unchanged At Zero Per Cent And Is Expected To Remain At This Level In Coming Years Exte… https://t.co/ovoCv9wRSU 1 day ago

LiveSquawk

LiveSquawk Riksbank: Repo Rate Is Held Unchanged At Zero Per Cent And Is Expected To Remain At This Level In Coming Years Exte… https://t.co/wZIIu14AqT 1 day ago

macro_intel

Macro Intel SAYS REPO RATE CAN ALSO BE CUT IF THIS IS ASSESSED TO BE AN EFFECTIVE MEASURE, PARTICULARLY IF CONFIDENCE IN INFLAT… https://t.co/7JdMLWKnsD 1 day ago

IDBIBankCares

IDBI Bank Cares @S_Jobalia @IDBI_Bank Dear Sir, RBI in its monetary policy dated June 10,2020 reduced policy repo rate by 40bps, ac… https://t.co/aFMckgxPPf 2 days ago

REIM_SA

RealEstateInvestorZA The repo rate remains unchanged which means the prime lending rate stays at 7%. Industry experts differ on opinion… https://t.co/71YsJouwGV 5 days ago

athreya49

athreya Clearly the yield curve shape is not in sync with current growth slump and financial sector problems. Along with re… https://t.co/NY7tSAojD7 5 days ago

WandileSihlobo

Wandile Sihlobo RT @IsaahMhlanga: Markets Daily: SARB keeps repo rate unchanged at 3.5%: The South African Reserve Bank’s Monetary Policy Committee kept t… 5 days ago

IsaahMhlanga

Isaah Mhlanga Markets Daily: SARB keeps repo rate unchanged at 3.5%: The South African Reserve Bank’s Monetary Policy Committee… https://t.co/HFX2C3Y4r1 5 days ago


Related videos from verified sources

RBI monetary policy- Repo rate unchanged, relief for MSMEs l Key details [Video]

RBI monetary policy- Repo rate unchanged, relief for MSMEs l Key details

RBI monetary policy- Repo rate unchanged, relief for MSMEs l Key details

Credit: LiveMint     Duration: 06:03Published
RBI: Repo rate unchanged at 4%, Reverse Repo Rate unchanged at 3.3% | Oneindia News [Video]

RBI: Repo rate unchanged at 4%, Reverse Repo Rate unchanged at 3.3% | Oneindia News

The Reserve Bank of India left the repo rate unchanged at four per cent after the meeting of its six-member Monetary Policy Committee. The reverse repo rate was also kept unchanged at 3.3 per cent. The..

Credit: Oneindia     Duration: 02:25Published