Mumbai: Ahead for the 1st bi-monthly meeting, Governor Shaktikanta Das on Monday met finance minister Arun Jaitley. It is guessed that they discussed on the present economic circumstances prevailing in the country.
For the decision of the first bi-monthly policy statement for the year 2019-2020, the meeting of the 6 members monetary policy committee (MPC) will be held on April 2nd to April 4. On 4th April, the policy will be declared.
Das told to the reporter after the meeting, “It was a normal meeting. As per the tradition that the RBI Governor has to meet finance minister ahead of the monetary policy so, it was a part of that.”
The bi-monthly meeting could be a great significance as its ahead of just 1 week from Lok Sabha elections which will start on 11th April.
Sources said that economic situations if the country were discussed in the meeting.
In the month of February, Retail influential got increase by 2.57 per cent but though it still down the number of RBI.
Another post for industrial development is that in the manufacturing sector, a round of rate slipped to 1.7%.
The key lending rate has been decreasing by the Central bank RBI from 25 to 6.25% in the month of February.
Many banks with the rate card of RBI has declared to reduce 10 points in their lending rates.
However, there were many complains that the bank does not claim the rate cut to the borrowers entirely which benefits to them as per the policy.
A Month back, with all the top officials of private and public banks, the governor had held a meeting on the discussion of rate transmission and pursue them to pass entirely and get the benefit at a lower rate to the customers.
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