21
Thursday
February 2019
10:59 AM IST
News Headlines
Saudi Arabia increases India''s Haj quota to 2 lakh after Modi-Salman talks        SC collegium transfers high court judges        Security of 18 separatists, 155 political leaders withdrawn        Crown Prince orders release of 850 Indian prisoners from Saudi jails        Putin says Russia to take measures if US deploys missiles        Jadhav''s death sentence based on ''extracted confession'', should be annulled: India tells ICJ        Israel strikes on Gaza arson balloons launchers, no injuries reported        Taylor surpasses Fleming becomes highest ODI scorer for NZ        ICC keeping a close watch on India-Pakistan situation ahead of WC        Vivo unveils V15Pro with Industry-first 32 MP pop-up selfie camera        Tripura gets Rs 85 crore Mega Food Park        India, Saudi Arabia ink MoUs for cooperation in tourism, broadcasting        Bernie Sanders enters 2020 US presidential race : Reports        Sixteen states sue Trump over border wall emergency        Djokovic wins his fourth Laureus World Sportsman of the Year        Pakistan shooters not taking part in New Delhi World Cup        Pulwama attack masterminded by Jaish, ISI: corps commander        Cricketer-turned-politician Kirti Azad joins Congress, calls it ''ghar wapsi''        Salve exposes Pak military courts at ICJ, says judges don''t even need law degree        RBI pays Rs 28,000 cr interim dividend to govt ahead of elections        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Business News
RBI cuts key interest rate by 25 pc, changes policy stance to 'neutral'
 
Mumbai: The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent to 6.25 per cent on expectation of inflation staying within its target range, a move that may translate into lower monthly installments for home and other loans.

The central bank also changed its monetary policy stance to 'neutral' from the earlier 'calibrated tightening', signalling further softening on its approach towards interest rates.

In the first policy review under Governor Shaktikanta Das, the six-member Monetary Policy Committee voted 4:2 in favour of the rate cut, while the decision to change policy stance was unanimous.

The RBI cut its estimates on headline inflation which cooled off to a 18-month low of 2.2 per cent in December for the next year, and expects the number to come at 2.8 per cent in March quarter, 3.2-3.4 per cent in first half of next fiscal and 3.9 per cent in third quarter of FY20.

Benchmark interest rate was cut by 0.25 per cent to 6.25 per cent, a move that would result in lower cost of borrowing for the banks that are expected to transmit the same to individuals and corporates.

"Headline inflation is projected to remain soft in the near term, reflecting the current low level of inflation and the benign food inflation outlook, the MPC resolution said, adding "we need to be watchful of vegetable prices, oil prices, trade tensions, health and education inflation, financial market volatility and monsoon outcomes".

The rate cut is in consonance of achieving the medium term objective of maintaining inflation at the 4 per cent level while supporting growth, it said.

Deputy Governor Viral Acharya and another MPC member, Chetan Ghate, voted for status quo in interest rates, while Das and three others voted for a cut in interest rates.
PTI


Vivo unveils V15Pro with Industry-first 32 MP pop-up selfie camera
Tripura gets Rs 85 crore Mega Food Park
India, Saudi Arabia ink MoUs for cooperation in tourism, broadcasting
RBI pays Rs 28,000 cr interim dividend to govt ahead of elections
Pak has no official info about India withdrawing MFN status: top trade official
Dollar changes hands in mid-110 yen range in early trade in Tokyo
Pulwama attack: Trade body announces bandh in 18 states on Feb 18
Indian Bank revises interest rate on domestic term deposits
Asia''s largest textile expo from Feb 22
Karnataka government for revial of defunct Falcon Tyres Ltd in Mysuru
HPCL to set up LPG bottling plant in Odisha
A380 Airbus abandons iconic A380 superjumbo, lacking clients
Mills to sell sugar at Rs 31/kg now from Rs 29 earlier: Paswan
IndiGo cancels around 130 flights for Friday
Tata Trusts Managing Trustee R Venkataramanan quits
IndiGo cancels 49 flights on Wednesday
Sensex, Nifty turn cautious ahead of IIP, inflation data releases
Gold futures on weak global cues, profit-booking
Tata Motors to supply electric buses to Lucknow City Transport Services
Govt aims to fetch Rs 5,316 cr through part-sale of Axis Bank stake
KERALA NEWS
Fire breaks out in a QRS showroom
 Kottayam: A major fire broke out in QRS showroom at Thirunnakkara in Kottayam on Monday evening. On  
Flash Hartal in Kerala: Stray incidents of violence reported
Thousands bid emotional farewell to CRPF jawan in Kerala
Religious practices should be respected: Smriti Irani
INTERNATIONAL NEWS
Putin says Russia to take measures if US deploys missiles
 Moscow: Russia does not intend to be the first to place missiles in Europe but will develop its defe
Jadhav''s death sentence based on ''extracted confession'', should be annulled: India tells ICJ
Israel strikes on Gaza arson balloons launchers, no injuries reported
Bernie Sanders enters 2020 US presidential race : Reports
NATIONAL NEWS
Saudi Arabia increases India''s Haj quota to 2 lakh after Modi-Salman talks
 New Delhi: Saudi Arabia on Wednesday increased India''s Haj quota by about 25,000, the third hike in
SC collegium transfers high court judges
Security of 18 separatists, 155 political leaders withdrawn
Cricketer-turned-politician Kirti Azad joins Congress, calls it ''ghar wapsi''
Untitled Page
Rashtra Deepika LTD
Copyright @ 2019 , Rashtra Deepika Ltd.