Thursday, August 13, 2020
Home Economy and Finance RBI Policy: Repo rate cut by 25 bps, GDP projected at 7.4%, EMIs may...

RBI Policy: Repo rate cut by 25 bps, GDP projected at 7.4%, EMIs may come down

Stating that the inflation will remain contained, Das added the investment activity is currently recovering owing to the public spending on infrastructure.

RBI Governor Shaktikanta Das, in his maiden RBI Policy, has projected GDP at 7.4% for the financial year 2019-20. The RBI has also brought down the Repo rate by 0.25 basis points bringing it from 6.5% to 6.25% which may bring down the EMI amount paid by individuals. Repo rate is the rate at which the RBI lends money to commercial banks in case of shortfall of funds.

Stating that the inflation will remain contained, Das added the investment activity is currently recovering owing to the public spending on infrastructure.

Das further added that the RBI has decided enhancement of collateral free agriculture loan from Rs 1 lakh to Rs 1.6 lakhs. This enhancement Rs 60,000 has been taken in view of the overall rise in inflation, marginal agriculture input and benefit to small farmers. He added that the import growth had turned slow in November and had actually turned negative in December 2018 primarily owing to high base effect and weak global demand. The inflation rate is estimated at 3.2% to 3.4% in the first half of 2019-2020 and 3.9% in the third quarter of 2019-2020.

- Advertisement -

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

‘Temples are spreading COVID-19’: 5 reasons why that is untrue and mere propaganda, driven by Leftists and Islamists

Left-liberals and Islamists have started to trend "#TirupatiVirus" on Twitter, claiming that 75% of India's COVID-19 cases are linked to temples.

Dravidian sabotage in education: Behind the veils of the Dravidian Delusion

Tamils in Tamil Nadu have had the benefits of national integration, wider exposure to language among others, denied to them by the Dravidian agitation.

PM Narendra Modi launches Transparent Taxation platform, Taxpayer’s Charter to honour the honest taxpayers

PM Modi launches new transparent taxation platform including Faceless assessments, Faceless appeals, and Taxpayer's charter

#BringBackAnandRanganathan trends as users protest Twitter declaring a Quranic verse ‘hateful’ and blocking Dr Anand Ranganathan who posted the verse

Twitter claimed that citing a Quranic verse is against the rules of the platform and is 'hateful conduct'.

Don’t chant Ram Ram, chant Allah Allah: Hindu family in Delhi’s Kalindi Kunj says Amanatullah Khan’s close aide attacked them for celebrating Bhoomi Pujan

Hindu family alleges attack by close aide of Amantullah Khan for celebrating Ram Mandir Bhoomi Pujan. Says police ignored their complaint and took action against the Hindu side.

Sambit Patra gets attacked by ‘liberals’ after Congress spokesperson Rajiv Tyagi dies following a television debate

Congress supporters and 'liberals' attacked BJP leader Sambit Patra after Congress spokesperson Rajiv Tyagi suffered major cardiac arrest and passed away soon after he was on a television debate.

Recently Popular

Bengaluru: Amidst chants of ‘Allah Hu Akbar’ and ‘Nara e Taqbeer’, Muslim mob burns down police station, Dalit Congress MLA’s residence over Facebook post...

Angered over Dalit Congress MLA's nephew's alleged Facebook post on Prophet Mohammad, rioting Muslim mob went on a rampage in Bengaluru

Alia Bhatt starrer Mahesh Bhatt’s Sadak 2 trailer gets over 1.3 million ‘dislikes’ on YouTube within hours of premiere

Within hours of its premiere on YouTube, the Sadak 2 trailer got over 1.3 million dislikes, making it one of the most disliked tailer on the video streaming site.

Bengaluru Riots: SDPI’s Muzammil Pasha arrested for organising, instigating violence, two other SDPI members absconding

The SDPI local leader Muzammil Pasha had visited the police station along with the mob to register a complaint against a person named Naveen over the alleged derogatory Facebook post.

Pakistan: Maulvi rapes child reading Quran in mosque in Sindh province, caught on CCTV

Muslim Cleric in Sindh province in Pakistan on the run after video of hem raping a child inside a mosque emerges, case registered

Linkedin employee Sourav Paul vows to murder Brahmins, claims it is easier to kill instead of opposing them

LinkedIn Employee Sourav Paul was unapologetic about his vitriol and abused a person when his hatred towards Rama was pointed out.

Maharashtra CM’s son involved in Sushant Singh Rajput death case, says Bihar govt’s lawyer: Here are the full details

SC heard Rhea Chakraborty’s plea for the second time in connection with Sushant Singh Rajput death case today

Tricolour is slowly replacing the black flag in Chhattisgarh’s worst Naxal-hit regions as villagers embrace peace and development: Report

Many schools in the Bastar district, which is considered a core area of Naxal activity, have started initiating flag hoisting ceremony on occasions like Independence Day and Republic day or any other national festival, in which the villagers participate extensively, says the report.

Congress link emerges in Bengaluru riots, husband of party’s corporator named as an accused in FIR

Kaleem Pasha - one of the masterminds of Bengalururiots, is the husband of Congress corporator from Nagavara Irshad Begum

‘Temples are spreading COVID-19’: 5 reasons why that is untrue and mere propaganda, driven by Leftists and Islamists

Left-liberals and Islamists have started to trend "#TirupatiVirus" on Twitter, claiming that 75% of India's COVID-19 cases are linked to temples.

Environmental Impact Assessment (EIA) Draft notification 2020 explained: Facts vs allegations of harming the environment

Contrary to the Congress party and other opponents, the Draft EIA notification 2020 brings much needed reforms in EIA

He may have flings with actresses, but is not a murderer: Subramanian Swamy says Aditya Thackeray has nothing to do with Sushant Singh Rajput’s...

Swamy said in the Q and A session that some other powerful persons are involved in the death of Sushant Singh Rajput, and Aditya is not one of them.

Standing up for Hindus: In Conversation with author-journalist Francois Gautier

Indian born French journalist Francois Gautier talks on a range of issues concerning India, Hinduism and the society

Chhattisgarh: Family being pressurised to get a 9-year-old rape victim married to the Maulana who brutalised her, complaint lodged

Maulana Mohammed Arshad Rehmani, was arrested on August 9 (Sunday) when he had allegedly raped the 9-year-old girl in Raipur.

Dravidian sabotage in education: Behind the veils of the Dravidian Delusion

Tamils in Tamil Nadu have had the benefits of national integration, wider exposure to language among others, denied to them by the Dravidian agitation.

PM Narendra Modi launches Transparent Taxation platform, Taxpayer’s Charter to honour the honest taxpayers

PM Modi launches new transparent taxation platform including Faceless assessments, Faceless appeals, and Taxpayer's charter

#BringBackAnandRanganathan trends as users protest Twitter declaring a Quranic verse ‘hateful’ and blocking Dr Anand Ranganathan who posted the verse

Twitter claimed that citing a Quranic verse is against the rules of the platform and is 'hateful conduct'.

Connect with us

239,751FansLike
428,505FollowersFollow
298,000SubscribersSubscribe