Transmission of rate cuts to improve: RBI guv

NEW DELHI: Reserve Bank of India (RBI) governor Shaktikanta Das on Saturday said transmission of rate cuts is expected to improve further in the coming days and that momentum is gathering pace on credit growth.
Earlier this month, the central bank opted for a status quo on the benchmark interest rate, amid signs of hardening inflation and an uncertain global environment.
Transmission of rate cuts is slowly and steadily improving, Das told reporters after the RBI’s board meeting here, adding that it is expected to improve further.
“Monetary policy framework is in operation for the last 3 years. Internally, we are reviewing and analysing how the MPC framework has worked. At an appropriate time, if required, we’ll have dialogue and discussion with the government. At the moment it is under review within RBI,” the RBI governor said.
He further added that RBI’s growth projection of 6% for the next year is in line with Economic Survey projection.
Finance minister Nirmala Sitharaman also addressed the board of the central bank.

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