The Reserve Bank of India promised on Thursday to nudge banks to pass on its latest rate cut to borrowers even as banks remained tentative in their response to an earlier reduction. RBI governor Shaktikanta Das announced his second rate cut in two months, bringing down the key repo rate to 6% from 6.25% earlier.
Markets were disappointed despite the much-anticipated rate cut because of the RBI’s negative prognosis in respect of the economy. Das cut the growth forecast for FY19 from 7.4% to 7.2% citing global headwinds and a slowdown in private and public consumption. He also reduced the inflation forecast for the first half of FY20 to 2.9-3% from 3.3% earlier.
The Reserve Bank of India promised on Thursday to nudge banks to pass on its latest rate cut to borrowers even as banks remained tentative in their response to an earlier reduction. RBI governor Shaktikanta Das announced his second rate cut in two months, bringing down the key repo rate to 6% from 6.25% earlier.
Markets were disappointed despite the much-anticipated rate cut because of the RBI’s negative prognosis in respect of the economy. Das cut the growth forecast for FY19 from 7.4% to 7.2% citing global headwinds and a slowdown in private and public consumption. He also reduced the inflation forecast for the first half of FY20 to 2.9-3% from 3.3% earlier.
417.jpeg)
10.jpeg)
40.jpeg)
100.jpeg)
416.jpeg)
5.jpeg)
4.jpeg)
6.jpeg)
5.jpeg)
