INSUBCONTINENT EXCLUSIVE:
Mr Das favoured shifting the stance of monetary policy from neutral to accommodative.The Indian economy has been clearly losing traction and
needs a decisive monetary policy to promote growth, said Reserve Bank of India Governor Shaktikanta Das while voting for a 25 basis
Mr Das, as per the minutes of the June 3-6 Monetary Policy Committee, said that since the last meeting of the rate-setting panel in April
2019, greater clarity has emerged about the evolving macroeconomic situation
weakened, while the headline inflation trajectory is projected to remain below 4.0 per cent throughout 2019-20 even after considering the
decisive monetary policy action
was for the third time in a row that the RBI cut the key lending rate (repo) by 25 basisi points.MPC member and RBI Deputy Governor Viral
Acharya said the mixed picture on economic growth has morphed into one where at least some aspects have weakened considerably over the past
dilemma, I vote - albeit with some hesitation - to frontload the policy rate cut from 6 per cent to 5.75 per cent" the minutes quoted him as
in time, it is evident that if the 2019-20 projections materialise, the MPC would have steered inflation at or below target on average for
four years in a row in its five-year term of office," he said
Other three members of the MPC -- Ravindra H Dholakia, Pami Dua, and Chetan Ghate -- also voted in favour of reducing the key lending
average lending rate on outstanding loans has increased by 4 basis points."Going forward, the transmission is expected to improve, given the
