1st Bi-monthly Monetary Policy Statement Released
On the basis of an assessment of the current macroeconomic situation, the Monetary Policy Committee at its meeting decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.0% from 6.25% with immediate effect. The reverse repo rate under the LAF stands adjusted to 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25%. GDP growth for 2019-20 is projected at 7.2%.
Topics: Bank rate , Economy , Finance , Finance in India , Interest Rates , LAF , Liquidity adjustment facility , Monetary Policy , Money , Official bank rate , Repurchase agreement , Reserve Bank of India