‘RBI rate cut important step for sustained growth’
DSIJ Intelligence / 03 Aug 2017
Commenting on the Reserve Bank of India’s rate cut decision, the finance ministry on Wednesday stated that it is an important step to accomplish sustained growth, consistent with moderate inflation and India’s potential.
Commenting on the Reserve Bank of India’s rate cut decision, the finance ministry on Wednesday stated that it is an important step to accomplish sustained growth, consistent with moderate inflation and India’s potential.
In its third bi-monthly monetary policy of the fiscal, the RBI on Wednesday reduced the repo rate after a gap of almost 10 months. The new repo rate at 6% is the lowest in six-and-a-half years. The last rate cut was affected in October 2016.
“We welcome the 25 basis points cut in the repo rate as an important step necessary to converge towards the appropriate real monetary conditions for sustained growth consistent with India’s potential and for stable, moderate inflation,” said Economic Affairs Secretary Subhash Chandra Garg.
The government has taken note of the statement of the Monetary Policy Committee (MPC) and its assessment of the inflation and growth outlook, he added.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.