INSUBCONTINENT EXCLUSIVE:
MPC Meet Live Updates: Reserve Bank kept the repo rates unchanged at four per centReserve Bank of India (RBI) Governor Shaktikanta Das
announced the policy decision today, at the end of the set up review of the Monetary Policy Committee (MPC) that began on Wednesday, June 2,
as it examines the economic effect amidst the seriousness of the 2nd wave of COVID-19
The Reserve Bank's financial policy unanimously voted to maintain the repo rates - the crucial interest rates at which the RBI provides
cash to commercial banks - stable at four per cent
The reverse repo rate - the rate at which RBI borrows money from banks, was likewise unchanged at 3.35 per cent
(Also Check Out: RBI Keeps Loaning Rate At 4%, Projects Real GDP Growth This Year At 9.5% )The central bank has actually maintained its
status quo on crucial policy rates for the sixth time in a row, continuing with the accommodative stance as long as needed to restore
economic development on a resilient basis
The RBI targeted retail inflation at 5.1 percent in the present financial year 2021-22
The RBI Governor also announced the secondary market government securities acquisition program - G-SAP 2.0 of Rs 1.2 lakh crore in the
second quarter of the existing
The central bank likewise lowered the gross domestic product (GDP) development forecast for the existing financial from 10.5 percent to 9.5
per cent.This is the second bi-monthly monetary policy review for the financial year 2021-22, at a time when the economy witnessed a record
contraction of 7.3 per cent for the previous financial 2021, tape-recording its worst-ever performance in over 4 decades
Even as India has actually taped around 2.8 crore COVID-19 cases since in 2015, and over 3 lakh casualties, some analysts believe that the
worse might be over as states have actually begun mindful unlocking, in the middle of preliminary indications that the peak of the 2nd covid
curve might have subsided.MPC Meet Live: Need sufficient financial assistance to jump-start usage need: Experts Procedures to improve
liquidity assistance to the majority of susceptible touch delicate sectors and small companies; and broadened credit exposure limitation for
resolution is an excellent relocation
As the country attempts to recuperate from the 2nd wave of pandemic, there is a dire requirement to supply financial policy assistance - on
account of both easy schedule and lower expense of funds - to homes and services alike
The monetary policy intervention, as we come out of graded local lockdowns and further resume financial activities, there is a higher need
to supply adequate fiscal support to leap start intake need
Demand stimulant step like credit aid or tax waivers even for a minimal period can play a transformative function till we reach the pre
COVID-19 normalcy thresholds, stated Mr
Shishir Baijal, Chairman - Managing Director, Knight Frank India.RBI Monetary Policy LIVE: Banking shares decrease after RBI maintains
status quo on providing ratesOn Friday, June 4, the rate-sensitive banking shares such as ICICI Bank, HDFC Bank, Axis Bank, State Bank of
India slipped around one percent each in a subdued market after the Reserve Bank of India (RBI) preserved status quo on rates of interest
during the 2nd bi-monthly monetary policy choice of financial 2022
MPC Meet Live Updates: Authorized Dealership banks permitted to position margins on behalf of FPI clientsThe Reserve Bank of India took
steps to encourage investments by Foreign Portfolio Investors (FPIs) in the Indian debt market
In order to relieve functional constraints faced by FPIs, RBI has actually now permitted authorized dealer banks to place margins on behalf
of their FPI customers for their transactions in federal government securities, including state advancement loans in addition to treasury
costs, within the credit risk management structure of banks.RBI Monetary Policy LIVE: G-SAP to guarantee lower sovereign threat premia:
Professionals RBI's larger move was with concerns to yield management as the RBI stressed on smooth liquidity management and organized
G-sec borrowings, with a more vocal and defined G-SAP
Of the residual Rs 400 bn G-SAP 1.0, around Rs 100 bn will be assigned to SDLs, while the G-SAP 2.0 amount will be greater at Rs 1.2 tn for
This would even more make sure lower sovereign threat premia ahead amidst elevated loaning calendar this year, stated Ms
Madhavi Arora, Lead Financial Expert, Emkay Global Financial ServicesRBI Monetary Policy LIVE: NACH to be offered on all the times of the
weekThe National Automated Cleaning House or NACH, a bulk payment system run by the NPCI, facilitates the one-to-many credit transfers such
as payment of dividend, interest, wage, pension, and so on, as likewise the collection of payments pertaining to electrical energy, gas,
telephone, water, regular instalments towards loans, financial investments in shared funds, insurance premium, and so on
The RBI has now leveraged the 24x7 availability of RTGS, NACH which is currently offered on bank working days, to be made available on
throughout the days of the week, with impact from August 1, 2021
RBI Monetary Policy LIVE: Enhancement of Exposure Thresholds under Resolution Framework 2.0 The Resolution Structure 2.0 was announced by
the Reserve Bank on May 5, 2021, provides for resolution of COVID-19 associated tension of MSMEs along with non MSME small companies, and
loans to people for service functions
In order to make it possible for a larger set of customers to get the benefits under Resolution Framework 2.0, RBI decided to broaden the
protection of borrowers under the plan by boosting the optimum aggregate exposure threshold from Rs 25 crore toRs 50 crore.RBI Monetary
Policy LIVE: RBI Governor Shaktikanta Das To Resolve Post-Policy Press ConferenceRBI Guv Shaktikanta Das will deal with a post-policy press
conference at 12 twelve noon today
He will attend to questions connected to the bi-monthly Monetary Policy Committee decisions taken today and other crucial decisions revealed
by the authority.RBI Monetary Policy LIVE: Sector-specific method to provide liquidity will ensure recuperate: Specialists The RBI
expectedly persevered and kept essential policy rates and policy position the same
The GSAP 2.0 bond-buying program worth Rs 1.2 lakh crore will guarantee system liquidity and smooth federal government loaning for the
present financial year.The central bank's concentrate on development, ensuring proactive, preemptive policy assistance till growth
supports will positively affect the market belief
The sector-specific approach to provide liquidity assistance from healthcare to hospitality will ensure a quick healing, arrest task losses
Raising the limit for MSME loan restructuring is a big positive offered the effect the sector has on the wider economy, stated Mr
Nish Bhatt, Creator - CEO, Millwood Kane International - a Financial investment speaking with firm.MPC Meet Live Updates: India's forex
reserves touched $598 billion-markRBI Guv Shaktikanta Das aid India's forex reserves may have crossed record level of $ 600 billion on the
back of robust capital flows
According to the RBI's information provided on May 28, the country's foreign exchange reserves rose to $ 2.865 billion to a record high
of $ 592.894 billion for the week ended May 21, driven by gold and currency assets.RBI Monetary Policy LIVE: RBI Announces Special Liquidity
Facility to SIDBI The Reserve Bank of India extended a fresh assistance of Rs 50,000 crore on April 7, 2021 to All India Financial
Institutions (AIFIs) for new financing in 2021-22
This included Rs 15,000 crore to the Small Industries Advancement Bank of India (SIDBI)
In order to support the financing requirements of micro, little and medium business (MSMEs), the RBI decided to extend an unique liquidity
facility of Rs 16,000 crore to SIDBI for on-lending or refinancing through designs and structures.MPC Meet Live Updates: Markets could be
disappointed with last tranche of G-SAP 1.0: Specialists The announcements on policy rates, position, and liquidity management was as per
The statements on G-SAP 1.0 and G-SAP 2.0 are in line expectations too
Markets could be slightly dissatisfied with the last tranche of GSAP 1.0 including SDL within the Rs400 bn limitation, specifically, after
the announcement of a possible Rs 1.58 tn loaning by center as back-to-back loans to the states
This would be a policy that is in line with market's expectations, stated Suvodeep Rakshit, Vice President - Senior Financial Expert at
Kotak Institutional Equities.RBI Monetary Policy LIVE: RBI to buy G-Sec worth Rs 40,000 under GSAP 1.0 ProgrammeUnder the G-SAP 1.0 program,
the Reserve Bank of India will acquire the remaining Rs 40,000 crore worth of government securities on June 17
RBI Governor Shaktikanta Das in the policy meet, stated that out of this, Rs 10,000 crore would constitute purchase of state development
loans or SDLs.MPC Meet Live Updates: Assistance from RBI is likely to relieve the SDL yields partially: Professionals The policy declaration
has been in line with our expectations with RBI having actually modified down its GDP forecasts while offering assistance to the stressed
The RBI likewise has revised the inflation trajectory marginally higher provided the concerns on pass through of higher input prices.Given
that SDL purchases are likewise included in the last tranche of GSAP 1.0, suggesting a comparable inculsion in GSAP 2.0, it might be
partially negative for the G-sec markets given that a greater purchase was expected in order to balance out the supply concerns originating
from the greater G-sec issuance anticipated to fulfill the GST payment cess shortfall to the states
Needless to say the pressure on states' finances is increasing and thus the support from RBI is most likely to ease the SDL yields
marginally, said Upasna Bhardwaj, Senior Citizen Financial Expert at Kotak Mahindra Bank
RBI Monetary Policy LIVE: RBI reduces quarterly GDP quotes for fiscal 2021-22RBI Governor Shaktikana Das said that GDP growth is now
projected at 9.5 percent in existing fiscal year 2021-22
The central bank predicted GDP development of18.5 percent in the very first quarter, 7.9 per cent in the second quarter, 7.2 percent in the
3rd quarter; and 6.6 percent in the 4th quarter of existing fiscalMPC Meet Live Updates: RBI Announces G-SAP 2.0 ProgrammeThe Reserve Bank
has chosen to undertake the G-SAP 2.0 in the second quarter of this financial year and conduct secondary market purchase operations of Rs
1.2 lakh crore to support the market.RBI Monetary Policy LIVE: RBI opens Special liquidity window of Rs 15,000 croreRBI Guv while addressing
the policy fulfill, stated that the reserve bank will open a special liquidity window of Rs 15,000 crore till March 30, 2022, with tenors of
as much as 3 years at the repo rate
Under this banks can provide loaning support to hotels, restaurants, travel firms, air travel supplementary services and other services that
consist of private bus operators, car repair work services, health club, along with saloons.MPC Meet Live Updates: RBI to perform G-SAP 1.0
on June 17RBI Guv Shaktikanta Das stated that the RBI will conduct operations for the staying Rs 40,000 crore under GSAP 1.0 on June 17
RBI Monetary Policy LIVE: RBI Cuts Down GDP Development To 9.5% For Fiscal 2021-22In the Monetary Policy Committee satisfy, the Reserve Bank
of India trimmed the gross domestic product (GDP) growth projections for the financial year 2021-22 from 10.5 per cent to 9.5 per centMPC
Meet Live Updates: RBI tasks retail inflation at 5.1% for financial 2021-22The Reserve Bank of India forecasted the retail inflation at 5.1%
The central bank predicted inflation for very first quarter at 5.2 per cent, 5.4 percent in second quarter, 4.7 percent in third quarter,
and at 5.3 per cent in the fourth quarter in the present financial year.RBI Monetary Policy LIVE: Shaktikanta Das says global economy to
help healing RBI Guv Shaktikanta Das described that the strength of the agri, forecast of monsoon, and the gathering momentum of the global
economy could help the domestic economy as the 2nd wave of the pandemic tapers.RBI Monetary Policy LIVE: Reserve Bank Maintains
Accommodative StanceShaktikanta Das-led Monetary Policy Committee has actually preserved its accommodative stance in an effort to continue
supporting the revival of the economy amid the COVID-19 crisis.RBI Monetary Policy LIVE: Monetary Policy Committee Keeps Financing Rates
UnchangedThe Reserve Bank's monetary policy preserved the repo rates - the key interest rates at which the RBI lends money to industrial
banks - constant at four per cent
The reverse repo rate - the rate at which RBI obtains cash from banks, was likewise unchanged at 3.35 per cent.RBI Monetary Policy LIVE: RBI
Guv Shaktikanta Das begins monetary policy addressRBI Governor Shaktikanta Das started resolving the financial policy statement at 10:00 am
A post policy interview will be telecast at 12:00 twelve noon todayRBI Monetary Policy LIVE Updates: Economy in vulnerable condition and
needs policy support: Specialists With the second wave of COVID - 19 that has actually brought about a new phase of financial
unpredictabilities, we expect RBI to remain growth supportive and leave the policy rates of interest unchanged in the upcoming policy
While increase in product costs have been putting in an upward pressure on input product expense and on margins, the Central Bank at the
current juncture need to not run the risk of increasing the borrowing expense
With the second wave of the pandemic, economy is in a vulnerable condition and would need further policy assistance from the Central Bank
and the Government, said Mr
Shishir Baijal, Chairman - Managing Director, Knight Frank India.RBI Monetary Policy LIVE Updates: Banking Stocks In Focus TodayThe shares
of private banks and PSU are most likely to be focus today amid market hours, as the Reserve Bank announced crucial choices on rates of
interest, liquidity steps
Ahead of the policy announcement, the stock markets opened on a careful note
At 9:53, the BSE Sensex was trading 52,278.05 greater by 19 pointsRBI Monetary Policy LIVE Updates: Traders await choices under G-SAP 2.0
The Reserve Bank of India, in its very first bi-monthly conference for the present financial, devoted to buying Rs 1 lakh crore ($13.71
billion) worth of government bonds from the marketplace between April-May in a quantitative reducing program it called G-SAP 1.0
Traders now aim to see whether the reserve bank will reveal potentially more aggressive bond purchases under a G-SAP 2.0 program, and are
likewise eyeing any modifications to development and inflation forecasts
The marketplace expectations for bigger bond-buying are high after the government just recently increased its loaning for this year.RBI
Monetary Policy LIVE Updates: Anticipate policy position to stay unequivocally accommodative: Specialists The present focus of the MPC is to
support the delicate economy and the financial system from the damage caused by the second wave of Covid and to bring it back again on a
healthy healing path over the next few quarters ..
There is a need to pursue a similar monetary and financial policy framework over the next 2-3 quarters as we witness the tapering of the
We expect the policy stance to remain unequivocally accommodative throughout the existing financial year
While there is virtually no scope for an additional cut in rates of interest provided the increased commodity costs and the rising WPI, the
status quo on rates is most likely to continue for a longer time potentially till the end of FY22
Regardless of the threats of a build up of inflationary pressures in the near term, RBI is likely to offer greater top priority to the
concerns around development recovery, said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings - Research.RBI Monetary Policy LIVE
Updates: GDP development kept at 10.5% in last meetingIn the last bi-monthly satisfy held in April, the reserve bank anticipated the gross
domestic product (GDP) development to be at 10.5 percent in fiscal 2021-22
The genuine GDP development was projected at 22.6 per cent in first quarter of current fiscal, 8.3 per cent in second quarter, 5.4 per cent
in third quarter, and 6.2 percent in the 4th quarterRBI Monetary Policy LIVE Updates: 'It will be essential to see if RBI recommends changes
to development projection': Experts While policy rates are most likely to be unchanged, it will be crucial to see if RBI MPC suggests any
changes to growth projection
Q1 FY 22 so far has been silenced given the pandemic and resultant localised lockdowns
Bond markets would also be eager to see GSAP 2.0 announcement for Jul- Sep quarter, as federal government bond supply might not be consulted
Bottomline, despite inaction on rates front, walk the talk will be essential to market movement post policy, stated Lakshmi Iyer, CIO
(Debt) - Head Products, Kotak Mutual FundRBI Monetary Policy LIVE Updates: RBI May keep key loaning rates unchangedIn a recent poll by news
firm Reuters, all 51 economists who took part in the survey said that the reserve bank is likely to keep rates of interest at record lows,
as it assesses the recession amidst the second wave of the COVID-19 pandemic
However, the monetary authority is anticipated to restate its dedication on liquidity
RBI Monetary Policy LIVE Updates: RBI Guv To Deliver Monetary Policy Address At 10:00 AM Reserve Bank of India (RBI) Guv Shaktikanta Das
will deliver the Monetary Policy review declaration at 10:00 am today (June 4, 2021)
The central bank Guv will likewise address a post-policy press conference at 12 noon.RBI Monetary Policy LIVE: RBI Monetary Policy Decision
TodayReserve Bank of India (RBI) Governor Shaktikanta Das will reveal the second bi-monthly Monetary Policy Committee (MPC) declaration of
the financial year 2021-22 today
