The Reserve Bank of India (RBI) governor Urjit Patel have said today that nearly 19 billion new currency notes have been issued since the demonetisation drive was started by the Centre on November 8. Since the banning of high denomination notes of Rs 500 and Rs 1,000, this is the first official announcement made by central bank about the number of notes that it has issued since Prime Minister Narendra Modi’s address to the nation in which he said that the step was being taken to fight black money. At the press conference, the RBI governor also added that the central bank has recalibrated production in last two weeks to print more Rs 500 and Rs 100 notes.
Top quotes of the governor and other senior officials during their address to media persons:
*Decided to keep the policy repo rate under the Liquidity Adjustment Facility (LAF) unchanged at 6.25 percent.
*Reverse repo rate under the LAF remains unchanged at 5.75 percent.
*Lowered GDP growth estimate to 7.1 percent in 2016-17 from the earlier projection of 7.6 percent.
*Inflation outcome in September and October vindicates current stance.Salary rise under the 7th pay commission has not been disruptive for inflation, says RBI Governor Urjit Patel.
*Salary rise under the 7th pay commission has not been disruptive for inflation, says RBI Governor Urjit Patel.
*RBI withdraws the incremental Cash Reserve Ration (CRR).
*Govt has pro-actively responded with increasing Market stabilisation scheme limit to Rs 6 Lakh crore: Urjit Patel.