Michael Patra named new RBI deputy governor
Michael Patra, who will take over as the fourth deputy governor, is likely to manage key portfolios such as monetary policy.
mpc
January 2020
December 2019
August 2019
April 2019
December 2018
August 2018
June 2018
NSO pegs India’s GDP growth at 5% for FY20
Advance estimates from the National Statistical Office (NSO) peg India’s GDP to grow at 5% in FY20 as compared to FY19’s 6.8%; manufacturing is projected to grow just 2%.
Inflation nudged RBI to wait and watch
The Monetary Policy Committee meeting minutes reveal that its members were bogged down by rising inflation and slowing growth, which could mean status quo going forward.
Caution is the investment mantra for 2020
While benchmark indices continue to hit new highs, the jury is divided on the fate of markets in the ensuing year.
RBI cuts repo rate to arrest slowdown
The 35 basis point repo rate cut is not the first unconventional rate action from the central bank as two repo rate actions in March 2003 saw a 40 and 10 basis points reduction in a matter of 13 days.
RBI’s MPC cuts repo rate by 25 bps
The Monetary Policy Committee cuts repo rate by 25 bps again, retains stance at neutral and cuts FY20 GDP forecast.
RBI’s governance needs examination: Board
Post the first meeting under the chairmanship of newly appointed governor, Shaktikanta Das, the RBI’s central board said the governance framework required a closer look.
RBI hikes repo rate by 25 bps again
However, the central bank maintained a neutral policy stance as it seeks to rein in inflation and boost the weak rupee.
RBI dreads crude oil prices, again
Minutes of RBI’s monetary policy committee meeting reveal that members agreed to a rate hike, inflation is a worry, and crude oil prices are a matter of concern.
High crude oil price + weak rupee = Wider CAD
While hoping for no rate action from RBI, Ind-Ra expects a macroeconomic hotchpotch if these factors sustain beyond a quarter.
