RBI Monetary Policy Announcement By Jyoti Roy, Angel Broking
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Below are Views On RBI Monetary Policy Announcement By Jyoti Roy, Angel Broking Ltd
The honourable governor of the RBI has maintained status quo on the benchmark repo rate and reverse repo rate at 4.0% and 3.35%, respectively. This was in line with the market expectation and the central bank also stated that it will maintain an accommodative stance till next year. With the increasing requirement for liquidity, the RBI has proposed that retail investors can open gilt accounts giving way to direct participation in the bond market. As part of normalising the CRR in two phases, the RBI has announced to restore the ratio to 3.5% in March and to 4% in May. While framing policies based on interest rates and the financial system, the MPC expects GDP growth to be 10.5% in FY21-22 vs the Centre's expectation of 11%.
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