# Business

RBI rate cut necessary for sustained growth: DEA

The Reserve Bank of India cut the short-term lending rate from 6.25% to 6%.

IANS | New Delhi | August 2, 2017 10:57 am

RBI rate cut necessary for sustained growth: DEA

Welcoming the 25 basis points cut in the repo rate by the Reserve Bank of India, the Department of Economic Affairs (DEA) on Wednesday said the step was necessary to converge toward appropriate real monetary conditions for India's sustained growth.

"We have taken note of the statement of the MPC (Monetary Policy Committee) and its assessment of the inflation and growth outlook," DEA Secretary Subhash Chandra Garg said in a statement here.

"We welcome the 25 basis points cut in the repo rate as an important step to converge toward appropriate real monetary conditions for sustained growth consistent with India's potential and for stable, moderate inflation," Garg added.

The Reserve Bank of India, in its third bi-monthly monetary policy review for 2017-18, announced that the repurchase rate, or the short-term lending rate for commercial banks on loans taken from it, stands lowered to 6 per cent from 6.25 per cent.

# Business

India’s growth outlook is supported by robust domestic engines: RBI

The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending, it said in its October Bulletin.

# Business

RBI MPC kees repo rate unchanged at 6.5%, inflation for FY25 at 4.5%

Reserve Bank of India (RBI) Governor Shaktikanta Das at the Monetary Policy Committee (MPC) meeting on Friday announced the policy rate unchanged at 6.5 per cent.

# India

RBI transformed into crucial enabler for market economy: Governor Das

“The path-breaking structural reforms, such as the enactment of the Insolvency and Bankruptcy Code (IBC) and the adoption of Flexible Inflation Targeting in the recent years, have helped us to deal with the challenges in the banking system and the task of maintaining price stability more effectively,” he said.