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MPC Meet Live Updates: Reserve Bank kept the repo rates unchanged at four per centReserve Bank of India (RBI) Governor Shaktikanta Das is announcing the policy decision today, at the end of the scheduled review of the Monetary Policy Committee (MPC) that began on Wednesday, June 2, as it evaluates the economic impact amid the severity of the second wave of the COVID-19 pandemic. The Reserve Bank’s monetary policy unanimously voted to maintain the repo rates – the key interest rates at which the RBI lends money to commercial banks – steady at four per cent. The reverse repo rate – the rate at which RBI borrows money from banks, was also unchanged at 3.35 per cent. This is the second bi-monthly monetary policy review for the financial year 2021-22, at a time when the economy witnessed a record contraction of 7.3 per cent for the previous fiscal 2021, recording its worst-ever performance in over four decades. (Also Read: RBI To Announce Monetary Policy Today: Here Are Things To Watch Out ) Even as India has recorded around 2.8 crore covid-19 cases since last year, and over 3 lakh casualties, some analysts believe that the worse may be over as states have begun cautious unlocking, amid initial signs that the peak of the second covid curve may have subsided.Here are all live updates from today’s RBI Governor Shaktikanta Das-led Monetary Policy Committee meeting:MPC Meet Live Updates: RBI Announces G-SAP 2.0 ProgrammeThe Reserve Bank has decided to undertake the G-SAP 2.0 in the second quarter of this financial year and conduct secondary market purchase operations of Rs 1.2 lakh crore to support the market.RBI Monetary Policy LIVE: RBI opens Sspecial liquidity window of Rs 15,000 croreRBI Governor while addressing the policy meet, said that the central bank will open a special liquidity window of Rs 15,000 crore till March 30, 2022, with tenors of up to three years at the repo rate. Under this banks can provide lending support to hotels, restaurants, travel firms, aviation ancillary services and other services that include private bus operators, car repair services, spa, as well as saloons.MPC Meet Live Updates: RBI to conduct G-SAP 1.0 on June 17RBI Governor Shaktikanta Das said that the RBI will conduct operations for the remaining Rs 40,000 crore under GSAP 1.0 on June 17.RBI Monetary Policy LIVE: RBI Cuts Down GDP Growth To 9.5% For Fiscal 2021-22In the Monetary Policy Committee meet, the Reserve Bank of India trimmed the gross domestic product (GDP) growth projections for the financial year 2021-22 from 10.5 per cent to 9.5 per centMPC Meet Live Updates: RBI projects retail inflation at 5.1% for fiscal 2021-22The Reserve Bank of India projected the retail inflation at 5.1% for fiscal year 2021-22. The central bank projected inflation for first quarter at 5.2 per cent, 5.4 per cent in second quarter, 4.7 per cent in third quarter, and at 5.3 per cent in the fourth quarter in the current financial year.RBI Monetary Policy LIVE: Shaktikanta Das says global economy to assist recovery RBI Governor Shaktikanta Das explained that the resilience of the agri, forecast of monsoon, and the gathering momentum of the global economy could help the domestic economy as the second wave of the pandemic tapers.RBI Monetary Policy LIVE: Reserve Bank Maintains Accommodative StanceShaktikanta Das-led Monetary Policy Committee has maintained its accommodative stance in an effort to continue supporting the revival of the economy amid the COVID-19 crisis.RBI Monetary Policy LIVE: Monetary Policy Committee Keeps Lending Rates UnchangedThe Reserve Bank’s monetary policy maintained the repo rates – the key interest rates at which the RBI lends money to commercial banks – steady at four per cent. The reverse repo rate – the rate at which RBI borrows money from banks, was also unchanged at 3.35 per cent.RBI Monetary Policy LIVE: RBI Governor Shaktikanta Das begins monetary policy addressRBI Governor Shaktikanta Das began addressing the monetary policy statement at 10:00 am on Friday, June 4. A post policy press conference will be telecast at 12:00 noon todayRBI Monetary Policy LIVE Updates: Economy in vulnerable condition and requires policy support: Experts”With the second wave of COVID – 19 that has brought about a new phase of economic uncertainties, we expect RBI to remain growth supportive and leave the policy interest rates unchanged in the upcoming policy. While rise in commodity prices have been exerting an upward pressure on input material cost and on margins, the Central Bank at the current juncture should not risk increasing the borrowing cost. With the second wave of the pandemic, economy is in a vulnerable condition and would require further policy support from the Central Bank and the Government,” said Mr. Shishir Baijal, Chairman & Managing Director, Knight Frank India.RBI Monetary Policy LIVE Updates: Banking Stocks In Focus TodayThe shares of private banks and PSU are likely to be focus today amid market hours, as the Reserve Bank announced key decisions on interest rates, liquidity measures. Ahead of the policy announcement, the stock markets opened on a cautious note. At 9:53, the BSE Sensex was trading 52,278.05 higher by 19 pointsRBI Monetary Policy LIVE Updates: Traders await decisions under G-SAP 2.0The Reserve Bank of India, in its first bi-monthly meeting for the current fiscal, committed to buying Rs 1 lakh crore ($13.71 billion) worth of government bonds from the market between April-May in a quantitative easing program it called G-SAP 1.0. Traders now look to see whether the central bank will announce potentially more aggressive bond purchases under a G-SAP 2.0 programme, and are also eyeing any revisions to growth and inflation forecasts. The market expectations for larger bond-buying are high after the government recently increased its borrowing for this year.RBI Monetary Policy LIVE Updates: Expect policy stance to remain unequivocally accommodative: Experts”The current focus of the MPC is to support the fragile economy and the financial system from the damage inflicted by the second wave of Covid and to bring it back again on a healthy recovery path over the next few quarters…There is a need to pursue a similar monetary and fiscal policy framework over the next 2-3 quarters as we witness the tapering of the second Covid wave. We expect the policy stance to remain unequivocally accommodative throughout the current financial year. While there is virtually no scope for a further cut in interest rates given the increased commodity prices and the rising WPI, the status quo on rates is likely to continue for a longer time possibly till the end of FY22. Despite the risks of a build up of inflationary pressures in the near term, RBI is likely to give higher priority to the concerns around growth recovery,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.RBI Monetary Policy LIVE Updates: GDP growth retained at 10.5% in last meetingIn the last bi-monthly meet held in April, the central bank expected the gross domestic product (GDP) growth to be at 10.5 per cent in fiscal 2021-22. The real GDP growth was projected at 22.6 per cent in first quarter of current fiscal, 8.3 per cent in second quarter, 5.4 per cent in third quarter, and 6.2 per cent in the fourth quarterRBI Monetary Policy LIVE Updates: ‘It will be key to see if RBI suggests changes to growth forecast’: Experts”While policy rates are likely to be unchanged, it will be key to see if RBI MPC suggests any changes to growth forecast. Q1 FY 22 so far has been muted given the pandemic and resultant localised lockdowns. Bond markets would also be eager to see GSAP 2.0 announcement for Jul- Sep quarter, as government bond supply may not be met with commensurate demand. Bottomline, despite inaction on rates front, walk the talk will be key to market movement post policy,” said Lakshmi Iyer, CIO (Debt) & Head Products, Kotak Mutual FundRBI Monetary Policy LIVE Updates: RBI May keep key lending rates unchangedIn a recent poll by news agency Reuters, all 51 economists who took part in the survey said that the central bank is likely to keep interest rates at record lows, as it assesses the economic crisis amid the second wave of the COVID-19 pandemic. However, the monetary authority is expected to reiterate its commitment on liquidity. RBI Monetary Policy LIVE Updates: RBI Governor To Deliver Monetary Policy Address At 10:00 AM Reserve Bank of India (RBI) Governor Shaktikanta Das will deliver the Monetary Policy review statement at 10:00 am today (June 4, 2021). The central bank Governor will also address a post-policy press conference at 12 noon.RBI Monetary Policy LIVE: RBI Monetary Policy Decision TodayReserve Bank of India (RBI) Governor Shaktikanta Das will announce the second bi-monthly Monetary Policy Committee (MPC) statement of the financial year 2021-22 today 



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