RBI News Update :
As the market was expecting, just as there is RBI's credit policy. RBI has announced no change in rates. Hence, the repo rate will remain 6.75 percent. The reverse repo rate unchanged at 5.75 percent will be. Moreover, the central bank has made no changes in CRR. So CRR will remain at 4 percent. RBI's next credit policy will be announced on February 2, 2016.
March 2017. The central bank has forecast inflation to below 5 per cent. RBI projected GDP growth for fiscal year 2016 is unchanged at 7.4 percent. According to the central bank to stabilize before the December inflation will have an edge. Because of the lack of rainfall in the agricultural sector will remain under pressure. Growth in capital goods and passenger cars in the manufacturing sector has been good. Rural demand is weak because of weak growth.
RBI said commodities, food inflation and further rate cuts will depend on oil prices. In addition to implementing the recommendations of the Pay Commission could remain in control even after the fiscal deficit, this will depend on the rate cut. The bank's base rate, savings rate cuts and a reduction in the NPA decided to cut rates may be coming. Despite the central bank's rate cut of 1.25 per cent, banks still have to cut interest rates to just 0.6 per cent.
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