Updated By: LatestGKGS Desk
Note Ban makes RBI to set interest rate not on basis of inflation
Reserve Bank of India has decided to set interest rate not on the basis of inflation
RBI will set interest rate on the basis of such events which will impact the Central Bank and the monetary policy committee.
Monetary Policy Committee will review the economy and after that will explore potential impact of Rs.500 and Rs.1000 note on the population.
Monetary policy committee to cut down repo rate by 0.25% this week
It is expected that this week MPC will cut the repo rate by 0.25% and if this goes on, MPC will cut down the rate to 6%.
According to SBI, MPC can cut rates by 0.50% while DCB and other Indian Ratings stated that MPC cut rates will remain unchanged.
Six members of Monetary Policy Committee will announce on Wednesday the two-thirty policy and it can cut down the rate to reduce the impact of demonetisation.
