In a move that may lead to lower home, auto and other loan EMIs, the RBI Thursday cut interest rates for the third time this year by 25 basis points to their lowest level in nine years and signalled more easing as it looked to support an economy growing at the slowest pace since the BJP first came to power in 2014.
As the scorching sun continues to increase the temperature outside, Mizaaz Hamza, a grocery shop owner in Delhi’s Shaheen Bagh is facing challenges of his own. It’s the month of Ramzan and festivities have already lit up the entire neighbourhood.
MUMBAI: The Reserve Bank of India on Thursday said it will set up an internal working group to review the current liquidity management framework and suggest measures to simplify it.
Mumbai: The Reserve Bank of India cut the repo rate by 25 bps. However, the past two rate cuts have seen little transmission. The RBI’s statement noted that the 0.5% cumulative cut in February and April resulted in only 0.21% average reduction on fresh rupee loans.
India's 10-year bond yield dipped 9 basis points on Thursday after the Reserve Bank of India cut rates and signalled more easing ahead. The 10-year bond yield fell 9 basis points to hit a fresh 18-month low of 6.933%, from its Tuesday's close of 7.02%. Bond prices and yields move in opposite direction.
RBI Governor Shaktikanta Das on Thursday said that the central bank would make sure that transmission of reduced repo rate would be faster and higher.