@the_news_21
- RBI keeps policy rate unchanged for fifth time in a row; repo at 4 pc
- Economic growth projection for current fiscal retained at 10.5 pc
- RBI to maintain accommodative monetary policy stance to support growth, keep inflation at targeted level
- Says recent surge in COVID-19 infections has created uncertainty over economic recovery, focus be on containing virus spread
- Projects 26.2 pc and 8.3 pc growth in June and September quarters; 5.4 pc and 6.2 pc in December and March quarters respectively
- Retail inflation projection revised to 5 pc in March quarter 2020-21
- Projects retail inflation at 5.2 pc in June and September quarters
- Gains from inflation targeting framework of 4 pc (+/- 2 pc) since 2016 reinforced by the retention of the target and the tolerance band by the government for next five years
- To ensure ample liquidity in system so that productive sectors get adequate credit
- Rs 50,000 crore additional liquidity facility to NABARD, NHB and SIDBI for fresh lending
- Will continue to do whatever it takes to preserve stability and to insulate financial firms from global spillovers
- Enhances maximum balance limit at end of the day from Rs 1 lakh to Rs 2 lakh per individual customers of payments banks
- To set up a committee for comprehensive review of the working of Asset Reconstruction Companies (ARCs).
