INSUBCONTINENT EXCLUSIVE:
MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said the rate cut transmission is gradually increasing and has
Nirmala Sitharaman in a joint press conference.
Earlier this month, RBI announced its sixth bi-monthly monetary policy statement for 2019-20
today in which it left the repo rate unchanged, as was widely expected.
Das said surplus liquidity is helping with monetary policy
transmission, adding that he expects good results from the surplus liquidity measures announced
of adjusted gross revenue (AGR) dues if needed.
Das said he discussed the recent Union Budget at the meeting with the Finance Minister
Nirmala Sitharaman.
The RBI Governor said inflation was broadly in line with their expectations.
Post the RBI policy review, retail
inflation in India rose to the highest since May 2014, pushed up by expensive food items and higher telecom tariffs.
Consumer Price Index
(CPI) inflation stood at 7.59 per cent in January 2020 compared to 7.35 per cent in December 2019.