The monetary policy committee of the Reserve Bank of India voted unanimously to keep the repo rate unchanged at 6.50 per cent. Experts say this means those with existing home loans should see no change in EMIs. However, the question of whether a borrower should choose a floating or fixed rate going. RBI Governor Shaktikanta Das informed about the unchanged repo rate.
10 August,2023 12:27 PM IST | Mumbai
Reserve Bank of India (RBI) Governor Shaktikanta Das held a press conference on June 08 where he informed that the monetary policy committee unanimously decided to keep the repo rate unchanged at 6.5 per cent. He also spoke about the growth in the Gross Domestic Product (GDP) of India which was recorded at 7.2 per cent in 2022-2023. Earlier, it was estimated to be 7 per cent. He also said that by taking all the factors into consideration, the real GDP growth for the year 2023-24 is projected at 6.5 per cent. “India’s real Gross Domestic Product (GDP) recorded a growth of 7.2 per cent in 2022-23, stronger than the earlier estimate of 7 per cent. It has surpassed its pre-pandemic level by 10.1 per cent...Taking all factors into consideration, the real GDP growth for the year 2023-24 is projected at 6.5 per cent,” said Shaktikanta Das.
08 June,2023 03:49 PM IST | Mumbai
Former Principal Secretary to Prime Minister Narendra Modi Nripendra Misra on May 22 said that the PM was not keen on the introduction of the Rs 2,000 notes but went along with the advice of his team. “PM Modi was not at all in favour of Rs 2000 notes. But, as demonetisation was to be done in a limited time, he gave reluctant permission for it. PM never considered Rs 2000 note as a note of the poor, he knew Rs 2000 has hoarding value instead of the transactional value,” said Nripendra Misra.
23 May,2023 10:57 AM IST | Mumbai
Reserve Bank of India (RBI) Governor Shaktikanta Das while briefing the media persons assured that note of Rs 2000 will remain legal tender despite it being withdrawn from circulation.“Let me clarify and re-emphasise that it is a part of the currency management operations of the Reserve Bank. For a long time, the Reserve Bank has been following a clean note policy. From time to time, RBI withdraws notes of a particular series and issues fresh notes. We are withdrawing the Rs 2000 notes from circulation but they continue as legal tender,” said Shaktikanta Das.
22 May,2023 05:23 PM IST | Mumbai
The Reserve Bank of India on Friday announced the withdrawal Rs 2,000 note, from circulation, adding that the notes will continue to be legal tender. It said the existing Rs 2,000 notes can be deposited or exchanged in banks until September 30, but with a limit “Rs 20,000 at a time”. The central bank advised the public to deposit Rs 2,000 notes — introduced during demonetisation in November 2016, into their bank accounts and/ or exchange them into notes of other denominations at any bank branch. It also advised banks to stop issuing Rs 2,000 notes with immediate effect. This decision received praise as well as criticism from political fronts.
20 May,2023 02:29 PM IST | MumbaiADVERTISEMENT
