RBI maintains status quo, keeps repo rate unchanged at 6.5%

A worker cleans the exterior of an office building in Mumbai's central financial district

Ravindra Dholakia, however, had voted to change the stance to neutral. With the market expecting RBI to hold the repo rate at 6.5%, Mint takes a look at the five things that could be on the MPC's radar. Moreover, the central bank had said in its October policy that a rate cut was off the table.

SLR lowered to align with Liquidity Coverage Ratio: In order to align the SLR with the LCR requirement, the MPC chose to reduce the SLR by 25 basis points every calendar quarter until the SLR reaches 18 per cent of Net Demand and Time Liabilities (NDTL). Currently, SLR stands at 19.5 per cent. SLR refers to the share of bank's total deposit that it needs to maintain itself as liquid assets.

The RBI also announced an auction of a 12-day Government of India Cash Management Bill.

The central bank has retained the GDP growth projection for 2018-19 at 7.4 per cent.

Under the country's new economic program announced on September 20, the inflation target for this year is 20.8 percent, 15.9 percent for 2019, 9.8 percent for 2020, and 6 percent for 2021.

Virat Kohli Tops Forbes India's Rich List For Sportspersons In 2018
Cricketers Mahendra Singh Dhoni and Sachin Tendulkar have bagged the fifth (Rs 101.77 crore) and ninth ( Rs 80 crore ) positions. The 52-year-old superstar is now filming Bharat and is also simultaneously hosting one of TV's top-rated shows, Bigg Boss 12 .

Patriots owner Robert Kraft responds to Josh McDaniels coaching rumors
During a Tuesday conference call, McDaniels acknowledged that becoming an National Football League head coach again is something he'd like to accomplish.

Scientists Detect Biggest Collision of Black Holes Ever Observed
Most notably, we find that nearly all black holes formed from stars are lighter than 45 times the mass of the Sun. Astronomers have discovered the largest ever collision of binary black holes happened nine billion years ago.

The six-member MPC, headed by RBI governor Urjit Patel had started its three-day meet on December 3 for the fifth bi-monthly monetary policy review of the current financial year.

In its October policy, the monetary policy committee had pegged inflation at 4% for the second quarter of FY19, 3.9-4.5% for the second half of the fiscal and 4.8% for the first quarter of the next fiscal, with risks to the upside.

The CPI inflation has been projected at 2.7-3.2 percent for the October-March period, the statement said.

The board members include RBI governor Urjit Patel, RBI deputy governor Viral Acharya, executive director Michael Debabrata Patra, IIM Ahmedabad professor Ravindra H Dholakia, Delhi School of Economics director Pami Dua and Indian Statistical Institute Professor Chetan Ghate.

Related:

Comments

Latest news

3-way tie for lead in Bahamas with Woods at the bottom
His 1-under 287 was one stroke better than Japan's Hideki Matsuyama , who shot a 3-over 75 to close out his tournament. Stenson almost rallied from a seven-shot deficit in 2016, only to finish toward the bottom of the pack past year .

Kylian Mbappe claims inaugural Kopa Trophy, Ada Hegerberg wins Women's Ballon d'Or
The Ballon d'Or is the prize every top footballer hopes to win 1 day - the title of the best footballer in the world. When asked about his feelings for Wenger, he said, "He is a real French football monument who has left Arsenal".

BT rejects Huawei's 5G network infrastructure bid in the UK
It meant in theory that were Huawei's equipment to be compromised, some customers would be affected but the wider network would not collapse.

Rudy Giuliani has no idea how the internet works
Keep that in mind as we travel back to Friday, when Giuliani tweeted some complaints about Special Counsel Robert Mueller . In January of 2017, Trump named Giuliani as his cybersecurity advisor .

Soyuz successfully launched into orbit
CBC News Network will also broadcast the interactive special featuring Canadian astronaut Chris Hadfield. NASA and Roscosmos said all onboard systems were operating normally and the crew was feeling fine.

This Market Indicator That Frequently Signals a Recession Just Flashed Red
Of course, that's still "pretty doggone tight", said Randy Frederick, vice president of trading and derivatives at Charles Schwab. If the trend in the graph below continues, there could be a two-year/10-year yield curve inversion by the end of 2018.

Alexandria Ocasio-Cortez reports from the abyss
The online drama popped off when Huckabee mocked Ocasio-Cortez as "looney" for comparing her election to the moon landing. We went to the moon, we electrified the nation, we established civil rights, we enfranchised the country.

Former Ukip leader Nigel Farage quits party
And Ukip deputy leader Mike Hookem was scathing about Mr Farage. 'He failed to get a vote through at yesterday's NEC. He said he was leaving UKIP because he is uncomfortable with the direction it has taken in recent months.

Kanye West Apologizes For Pulling A Kanye During A Broadway Show
The subject of the musical , known for her own plentiful tweets, has yet to weigh in on West's faux pas. I am so defeated by this issue that I seriously question whether I want to work on stage anymore.

Stocks tumble amid China trade uncertainty
Defensive Utilities .SPLRCU eked out a 0.2 percent gain, the only one of the 11 major S&P 500 sectors in positive territory. The yield on the 10-year Treasury note fell to 2.91 per cent from 2.99 per cent late Monday, a large move.

Kevin Hart Confirms He's Hosting the Oscars With the Most Heartwarming Message
He said that he knows his mother is "smiling from ear to ear right now". Hart's taking on the gig despite a packed schedule.

Tsunami warning after huge quake off New Caledonia
The Joint Australian Tsunami Warning Centre issued an update saying that no tsunami risk has been identified to Australia. McGarry said he felt the quake where he is based in Vanuatu's capital, Port Vila, as a mild shaking.

Australian teenager Oliver Davies smashes six sixes in an over
The blitz included six sixes in an over off spinner jack James in the 40th over. all six hits were slammed over midwicket. The teenager, Oliver Davis whacked six sixes in an over to smash quite a few records in the game of cricket.

Pakistan opener Mohammad Hafeez to retire from Test cricket
Hello and welcome to the live blog of the third day's play between Pakistan and New Zealand in the third and final Test. After the second report of his action in August 2014 Hafeez was banned from bowling at worldwide level for 12 months.

Ravens vs. Falcons offensive snap counts
Tavon Young was quick to snag the ball and returned it 12-yards the other way for a game-sealing Baltimore Ravens touchdown . Beasley punctuated the score by slam dunking the ball over the goalpost, thus incurring an unsportsmanlike conduct penalty.

Other news