Highlights of RBI's 1st bi-monthly monetary policy of 2022-23
Following are the highlights of the RBI's first monetary policy statement of 2022-23 unveiled by Governor Shaktikanta Das:
Following are the highlights of the RBI's first monetary policy statement of 2022-23 unveiled by Governor Shaktikanta Das:
See Zee Business Live TV Streaming Below:
* Policy repo rate unchanged at 4 pc; marginal standing facility rate & bank rate too remain unchanged at 4.25 pc.
* Monetary stance to be accommodative with focus on withdrawal of accommodation to keep inflation within target.
* GDP growth projection for FY'23 slashed to 7.2 pc from 7.8 pc; growth projections based on assumption of crude oil (Indian basket) price at USD 100 a barrel during FY'23.
* Inflation forecast hiked to 5.7 pc for FY'23 from 4.5 pc.
* Escalating geopolitical tensions to cast a shadow on economic outlook.
* Robust Rabi output to support recovery in rural demand, pick-up in contact-intensive services.
* Investment activity to gain traction with improving business confidence, pick up in bank credit, government capex plans.
* Opening time for RBI regulated financial markets to be restored to pre-pandemic timing of 9:00 am from April 18.
* Gradual withdrawal of Rs 8.5 lakh crore liquidity overhang to be undertaken over several years.
* Rationalised housing loans norms extended till March 31, 2023.
* RBI will come out with a discussion paper on climate risk and sustainable finance.
* Committee to be set up for review of customer service standards in RBI regulated entities.
* Card-less cash withdrawal facility to be extended to all banks and ATM networks using the UPI.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
12:53 PM IST