In the RBI monetary policy review, Governor Raghuram Rajan today kept policy rates unchanged and said that headline inflation is at elevated levels and banks are yet to pass on the full benefits of previous rate cuts. However, he held out hope to the industry by saying, 'Out of policy rate cut can't be ruled out'. The Reserve Bank of India (RBI) has cut rates thrice so far in 2015 by 25 basis points each. Here are 6 points raised by Raghuram Rajan today: (Express photo by Prashant Nadkar)
Read full story: RBI leaves rates unchanged; asks banks to lower rates
1. RBI monetary policy review: RBI enthusiastic supporter of interest-setting Monetary Policy Committee, said Guv Raghuram Rajan. (Express photo by Prashant Nadkar)
Read full story: RBI leaves rates unchanged; asks banks to lower rates
2. RBI monetary policy review: RBI talking to government to hike foreign portfolio investment cap in banks in medium term, said Raghuram Rajan. (Express photo by Prashant Nadkar)
Read full story: RBI leaves rates unchanged; asks banks to lower rates
3. RBI monetary policy review: RBI wants Monetary Policy Committee to be institutionalised; ultimate responsibility on monetary policy is on Governor, said Raghuram Rajan. (Express photo)
Read full story: RBI leaves rates unchanged; asks banks to lower rates
4. RBI monetary policy review: Veto power with RBI Guv in proposed monetary policy panel will mean no change from current rate setting practice, said Raghuram Rajan. (Express photo by Prashant Nadkar)
Read full story: RBI leaves rates unchanged; asks banks to lower rates
5. RBI monetary policy review: RBI and govt have reached consensus on composition of MPC and what the Governor's power would be, said Raghuram Rajan. (Express photo)
Read full story: RBI leaves rates unchanged; asks banks to lower rates
6. RBI monetary policy review: At least first set of differential bank licences to be announced by end of this month, said Raghuram Rajan.(Express photo)
Read full story: RBI leaves rates unchanged; asks banks to lower rates
