RBI leaves Repo unchanged, SLR slashed by 50 basis points
As per RBI’s third bi-monthly monetary policy statement for 2014-15 the central bank has not made any change in Repo rate which is currently at 8%. The Reverse Repo rate has also been left unchanged at 7% and the Cash Reserve Ratio (CRR) is also the same at 4%. The only major change is in Statutory Liquidity Ratio (SLR) which has been slashed by 50 basis points (bps) to 22% from previous 22.50%.
With the Budget reiterating commitment to the medium-term fiscal consolidation plan and setting the target of 4.1% of GDP as the fiscal deficit for 2014-15, banks now have the space to extend credit to the productive sectors in response to its financing needs as growth gains momentum.
RBI announces Second Tranche of purchase under G-SAP 1.0
The Reserve Bank of India recently announced that the second tranche of open market purchase of Gove...
RBI to conduct first SLTRO for small finance banks
The Reserve Bank of India recently announced that it is to conduct the first Special Long Term Repo ...
RBI sets up Committee to assist RRA 2.0
The Reserve Bank of India recently constituted a Committee under the Managing Director S Janaki Rama...
T Rabi Sankar named RBI deputy governor
The Government of India recently appointed T Rabi Shankar as the fourth Deputy Governor. ContentsAbo...
RBI Guidelines for Tenure of Bank CEOs and MDs
The Reserve Bank of India recently laid down set of instructions to improve the corporate bank gover...
|View All E-Books: Recent Release|