Categories: Business

RBI likely to leave repo rate unchanged in aug policy meet says SBI report

Photo: GOOGLE

RBI likely to leave repo rate unchanged says SBI report

new Delhi. The Reserve Bank of India will not make any changes in the repo rates in the upcoming monetary policy review. This has been estimated in SBI Research's report-Ecorep. The report states that the Monetary Policy Committee (MPC) may take 'non-traditional policy measures' to ensure financial stability. The three-day meeting of the Reserve Bank Governor-led Monetary Policy Committee will begin on August 4. The results of the meeting will be announced on August 6.

"We believe that the Reserve Bank will not cut rates in August," the SBI Research report said. We believe that the MPC meeting will discuss what further non-traditional measures can be taken to ensure financial stability in the current situation. " Has been cut. Banks have given a benefit of 0.72 per cent reduction on new loans to customers. Some large banks have even transferred profits of up to 0.85 per cent. The report says that this is because the Reserve Bank went ahead and used liquidity as a medium to achieve policy objectives. The report said that during lockdown people preferred to hold financial assets. This has encouraged financial savings in the country. The report states, "We estimate that financial savings will increase in 2020-21. One reason for this is also to save people as a precautionary measure. "

This post was published on July 31, 2020 4:28 pm

Content Team

Recent Posts

Rupee ends 20 paise lower at 75.01 per dollar

Photo: GOOGLE Rupee Vs Dollar new Delhi. The rupee has seen weakness against the dollar in Monday's trade. In the…

Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark The number of bank accounts under the Jan Dhan Yojana is more than 40 crores, it has deposits of 1.30 lakh crores.

Photo: ZEEBUSINESS Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark new Delhi. More than 40 crore bank accounts…

LG will launch affordable 5G smartphone by the end of the year, Realme's new charger will full charge in 20 minutes

Photo: IGN.COM LG to launch affordable 5G smartphone later this year Seoul / New Delhi South Korean tech company LG…