On the heels of a new government committed to infrastructure and growth, India stands on the cusp of a transformation. Change is the only constant. And, the Indian economy is proof of this. While a year ago, the scenario looked gloomy with a sub 5-per-cent GDP
To boost infrastructure development as well as affordable housing, the Reserve Bank of India (RBI) today exempted long-term bonds from mandatory regulatory norms such as cash reserve ratio (CRR) and statutory liquidity ratio (SLR), if the money raised is used for funding of such projects.
The Monetary Policy Committee (MPC) review meeting has concluded, announcing no policy rate change (repo rate stays at 6.25 per cent, the reverse repo rate at 6 per cent, and marginal standing facility rate at 6.5 per cent). It maintained its neutral monetary policy stance, but significantly softened its tone on inflation. Five out of six members were in favour of the monetary policy decision.