RBI Governor Urjit Patel said that the recent reforms undertaken will help pick up the rate of growth.He said that Bank recapitalization plan is a reform as well as recap package.
The Reserve Bank of India has kept the repo rate unchanged at the fifth Bi-monthly Monetary Policy meeting 6 dec, given the caution over rising inflation.
Policy repo rate under liquidity adjustment facility has been kept unchanged at 6.0 percent.Consequently, reverse repo rate under the LAF remains at 5.75 percent and marginal standing facility rate and the Bank Rate at 6.25 percent.
RBI Governor Urjit Patel said that the recent reforms undertaken will help pick up the rate of growth.He said that Bank recapitalization plan is a reform as well as recap package.
RBI Deputy Governor Viral Acharya said that liquidity conditions continued to normalise gradually during the year and overhang of liquidity surplus in banking system forced the withdrawal of specific bank notes in Nov 2016, touched the peak of close to Rs 7.96 trillion at year's beginning & now come down.
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