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RBI governor said that manufacturing activity has weakened sharply.
Jun 06, 12:02 PM (IST)
RBI changes policy stance to accommodative from neutral
The Reserve Bank of India (RBI) delivered a third consecutive rate cut in five months in an effort to boost credit growth and revive the sluggish economic activity in the country.
Jun 06, 12:01 PM (IST)
Shaktikanta Das said that economic activity has either slowed or contracted in major global economies and hence the stance was changed to accommodative.
Repo rate is below 6 percent for the first time since September 2010.
Jun 06, 11:57 AM (IST)
This is the second-ever policy since the MPC was set up where there has been an unanimous decision on the 25 bps rate cut.
Jun 06, 11:53 AM (IST)
The MPC notes that growth impulses have weakened significantly as reflected in a further widening of the output gap compared to the April 2019 policy
Jun 06, 11:52 AM (IST)
All members of the MPC unanimously decided to reduce the policy repo rate by 25 basis and change the stance of monetary policy from neutral to accommodative.
Jun 06, 11:51 AM (IST)
GDP growth for FY20 has been revised downwards from 7.2 percent in the April policy to 7 percent. This will be in the range of 6.4-6.7 percent for H1FY20 and
7.2-7.5 percent for H2FY20.
Jun 06, 11:50 AM (IST)
CPI inflation has been revised to 3.0-3.1 percent for H1FY20 and to 3.4-3.7 percent for H2FY20.
Jun 06, 11:48 AM (IST)
The repo rate cut is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent, while supporting growth.
Jun 06, 11:46 AM (IST)
RBI has changed policy stance to accommodative.
Jun 06, 11:46 AM (IST)
All MPC members voted for a rate cut.
Jun 06, 11:45 AM (IST)
MPC cuts rate by 25 basis points to 5.75 percent.
Jun 06, 11:43 AM (IST)
The third repo rate cut in a row will immediately spur a growth for sectors like real estate.
Jun 06, 11:38 AM (IST)
RBI projections and revisions of CPI inflation will be an areas of focus.
Jun 06, 11:35 AM (IST)
RBI's statement on the payments systems will be also watched by the market.
Jun 06, 11:33 AM (IST)
There could be a prolonged pause till there is effective transmission of rates.
Jun 06, 11:31 AM (IST)
A liquidity surplus will mean that transmission can happen faster.
Jun 06, 11:29 AM (IST)
The market has already factored in a 25 basis points rate cut. Anything above that will be a positive.
Jun 06, 11:28 AM (IST)
Only if the liquidity scenario sees an improvement, will there be a transmission of rates.
Jun 06, 11:28 AM (IST)
For banks to transmit, cost of deposits have to come down. This will necessitate the need for have more alternative investments at attractive rates.
Jun 06, 11:26 AM (IST)
RBI bought government debt paper worth Rs 3 lakh crore from the market. RBI governor Shaktikanta Das could provide some views on the figures for FY20.
Jun 06, 11:24 AM (IST)
A status quo by the MPC is highly unlikely in the June policy.
Jun 06, 11:21 AM (IST)
Most banks are in a race to garner deposits and are not in a position to reduce interest rates despite the fact that mutual fund fixed income instruments have become riskier after the IL&FS debt crisis.
Jun 06, 11:18 AM (IST)
India's decisions on future trade policies will also impact the MPC's decision on the future rate cuts that can be initiated.
Jun 06, 11:15 AM (IST)
Corporate Affairs Secretary Injeti Srinivas told PTI that there is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities, which is a perfect recipe for disaster (in the NBFC sector. RBI could announce some steps to deal with this issue.
Jun 06, 11:13 AM (IST)
Monsoon rains are likely to enter India through the southern coast around June 8, said that the Indian Meteorological Departmen. A good monsoon would boost the GDP and indirectly consumption.
Jun 06, 11:11 AM (IST)
Rate-sensitive stocks are having a mixed trade ahead of the repo rate announcement by the RBI.
Jun 06, 11:08 AM (IST)
On the NPA front, RBI may announce a few measures on the debt restructuring by banks. Similar measures for NBFCs will be taken.
Jun 06, 11:04 AM (IST)
RBI may also indicate the steps being taken to ensure transmission of the rate cuts.
Jun 06, 10:59 AM (IST)
The next policy will look into the progress of the south-west monsoon since India's agriculture sector is heavily dependent on the monsoon rains.
Jun 06, 10:52 AM (IST)
RBI will also provide clarity on the GDP growth figures and what it means for the country in FY20.
Jun 06, 10:43 AM (IST)
Manju Yagnik, Vice Chairperson, Nahar Group and Vice President NAREDCO (Maharashtra) said that they are expecting a 50 basis points rate cut higher than the last rate cut. She added that this will help in the medium term to improve sentiment which will further encourage the real estate demand.
Jun 06, 10:39 AM (IST)
Rating agencies ICRA and Crisil have downgraded rating on Rs 850 crore worth of commercial paper of DHFL to 'default' from 'A4'. This could deepen the liquidity crisis among NBFCs and RBI's views on this matter will be crucial.
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