Hindusthan Samachar
Banner 2 शनिवार, मार्च 23, 2019 | समय 13:17 Hrs(IST) Sonali Sonali Sonali Singh Bisht

RBI may give a gift of interest rate cuts before election

By HindusthanSamachar | Publish Date: Mar 12 2019 6:21PM
RBI may give a gift of interest rate cuts before election
New Delhi, 12 March(H.S.).Once again, RBI may reduce the repo rates. In fact, the January IIP(Index of Industrial Production) and figures of February inflation will also decide the extent of cut in interest rates. At the same time, the indication of interest rate cut was given in last meeting of bankers with RBI(Reserve Bank of India) Governor. Experts also believe that the central bank can take this decision in the next meeting to reduce interest rates. The followings can drive the cut in interest rates by RBI.Monetary Review MeetingIt is being informed that the meeting of monetary review committee headed by RBI governor Shaktikant Das on 5th April is before the general elections scheduled to start on April 11. The decision to cut interest rates can be taken in this meeting. Besides this, Das also mentioned earlier if everything goes well, one more cut in interest rates can be announced,due to which common people will be benefited.Prior Reduction in Interest RatesIt is noteworthy that, in a prior RBI meeting , the repo rate was cut by 0.25 per cent, after which, according to media reports, economists in a poll, had also estimated the cut in interest rates in the next meeting.According to Amit Ranjan, financial expert and most economists in opinion poll believed that interest rates can be cut once again in the RBI meeting before Lok Sabha elections.Earlier, the RBI had slashed the interest rate. It is being informed that in the previous meeting, unexpectedly, the RBI had reduced the repo rate by 0.25 per cent and reduced it from 6.50 per cent to 6.25 per cent. At the same time, RBI had changed its monetary stance from ''strict'' to ''neutral'' (normal). Actually, since the policy changes were made, it was believed that the RBI could further ease the interest by cutting interest rates.Inflation RatesAccording to the data released by the Central Statistics Office (CSO), retail inflation in January dropped to 2.05 per cent, from 2.11 per cent in December. The IIP growth rate was 2.4 percent in December, which was 0.3 percent in November. Not only that, there was a great improvement in IIP in December.While deciding interest rates, RBI keeps retail inflation rates in mind. Both RPI and IIP the figures are supposed to arrive today and if they are found as expected, then before the election, the RBI can once again give relief of interest rates cut. This will benefit the customers.Hindustan Samachar/Bharati/Pramod \
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