RBI’ Monetary Policy Committee (MPC) on Friday kept the policy rates unchanged once again at its bi-monthly review.
The Repo rate stands at 4 per cent while the reverse repo rate is at 3.35 per cent. RBI sticks to maintaining liquidity in the system. India is recovering from the covid-19 pandemic and its economic implications. RBI MPC takes stock of the overall economic situation in the country now.
Though the central bank has now trimmed the growth forecast for FY 2021-22 to 9.5 per cent from the earlier 10.5 per cent. CLICK HERE TO READ MORE
“There is no change in our position. Our circular clarifies our position very well,” RBI governor Shaktikanta Das said in the bi-monthly review of MPC
RBI bank has also stepped up its efforts to ensure liquidity in the system. Apart from this, the RBI Governor expressed major concerns over cryptocurrencies during the MPC review.
A few days back, the reserve bank of India had issued a clarification as banks warned customers against using their services for trading in cryptocurrencies.
RBI also calls on banks to do customer due diligence when it comes to standards for Know Your Customer, anti-money laundering, among others.
The government is planning a cryptocurrency and regulation of official digital currency bill, 2021.
Earlier, the Reserve Bank of India (RBI) Governor Shaktikanta Das had announced a number of coronavirus relief measures.
The RBI provided a second window to individual, small borrowers having up to Rs 25 crore loans for restructuring loans if not availed earlier.
But there is no clue about when the proposed law will be introduced in Parliament.
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