
RBI holds rates; unveils new measures
The recent surge in Covid-19 infections, the central bank says, adds uncertainty to the outlook on domestic growth as restrictions could dampen demand improvement and delay the return of normalcy.
The recent surge in Covid-19 infections, the central bank says, adds uncertainty to the outlook on domestic growth as restrictions could dampen demand improvement and delay the return of normalcy.
At its first monetary policy review for 2021, the central bank kept key rates unchanged, while announcing several measures to manage liquidity.
RBI’s status quo on interest rates, guidance on inflation and GDP, and thrust on economic growth pushes equity indices to new lifetime highs.
Monetary policy committee keeps rates unchanged; central bank announces new measures to mitigate pandemic woes, as it sees 9.5% contraction in real GDP for FY21.
Moratorium extended, banks’ group exposure increased to 30%; slew of measures to support economy affected by Covid-19.
Round II of RBI’s Covid-19 crisis measures was received by the Sensex and the Nifty 50 gaining 1,116 and 331 points each before closing 986 and 273 points higher from the previous day’s close.