RBI may cut its repo rate to 6%
Advertisement
Advertisement
Advertisement
Demonetization and global oil prices going up are the two major factors that will impact The demonetization drive has resulted in a surge in bank deposits and the lending rates have fallen by up to 1%.
Last December when the committee met for the second bi-monthly monetary policy review had kept the repurchase rate by commercial banks unchanged at 6.25%. This was done keeping in mind various global and local factors like hike in the US interest rates etc.
Earlier this week, the
“Price of crude oil (Indian basket) has increased from $39.9 in April 2016 to $52.7 in December 2016. For the next financial year, the recent uptick in global commodity prices, in particular crude oil prices, pose an upside risk,” it said.
In the last monetary policy review in January, the RBI has admitted that demonization has has lowered the gross value added growth estimates for the current fiscal to 7.1% from 7.6% forecast.
Advertisement
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh