Tuesday, 7 June 2016

Reserve Bank releases the results of Survey of Professional Forecasters on Macroeconomic Indicators - Round 40

Dear mm expert readers. Today we re presenting you a valuable information from RBI Official website. 2 Main news update available. You can check these recent update given below.
प्रिय प्रतियोगी साथियों, इस आर्टिकल में आप पायेंगे भारतीय रिजर्व बैंक द्वारा हाल ही में अपडेट किये गये समाचार जो बैंकिंग भर्ती परीक्षार्थियों के लिए अति उपयोगी है जो निश्चित ही आपको अप-टू-डेट रखेंगे। 

Update 1: Results of the Survey of Professional Forecasters on Macroeconomic Indicators - Round 40

The Reserve Bank of India today released on its website the results of the Survey of Professional Forecasters on Macroeconomic Indicators - Round 40conducted during May 2016.
The results of the Survey represent views of the respondent forecasters and in no way reflect the views or forecasts of the Reserve Bank of India.

Update 2: Second Bi-monthly Monetary Policy Statement, 2016-17

Reserve Bank of India Governor Raghuram Rajan has announced the Second Bi-monthly Monetary Policy Statement for the year 2016-17 in Mumbai. The central bank's decision to maintain status quo is the step to see the impact of delayed monsoon rains. He further said, rising crude prices and implementation of 7th pay commission pose upside risk to inflation. On changing the policy rate, Mr. Rajan said the RBI will remain accommodative provided data are supportive. RBI has retained growth projection at 7.6 per cent for 2016-17 citing corporate profits and surge in consumption.

So accordingly, Mr. Rajan, keeps repo rate unchanged at 6.5%, reverse repo rate stays at 6.00 %, and CRR remains at 4%. While, LAF will also remain unchanged at 6.0 %, and the MSF rate and the Bank Rate at 7.0 %
Earlier, RBI had cut the repo rate by 0.25 % to 6.5 % in April in its first bi-monthly monetary policy review of the current financial year. But the inflation surprise in the April reading makes the future trajectory of inflation somewhat more uncertain.

Explaining the rationale for keeping the rates unchanged, Rajan said: "Incoming data since the April policy announcement show a sharper-than-anticipated upsurge in inflationary pressures emanating from a number of food items (beyond seasonal effects), as well as a reversal in commodity prices.
At present, Retail inflation rose to 5.39 % in April on higher food prices, reversing a downward trend seen in recent months. It was above RBI's near-term target of 5% by March 2017. However, latest official data showed India was one of the world's fastest growing economies in the March quarter, with GDP growing at a rate of 7.9 %. 
Official Website : https://www.rbi.org.in/

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