- This is Patel’s maiden statement equally RBI Governor.
- This was the key bank’s quaternary bi-monthly policy contention for the twelvemonth 2016-17.
- This is for the get-go fourth dimension that decision-making on involvement rates has shifted to the six-member panel (Monetary Policy Committee) which has equal representation from RBI in addition to the government.
- Since Jan final year, the RBI has cutting the repo-rate – the charge per unit of measurement at which RBI lends to banks – v times.
- New Changes inwards Policy Rates :
- Repo Rate – 6.25% earlier it was 6.50 %
- Reverse Repo Rate – 5.75 % earlier it was 6.00%
- MSF – 6.75% earlier it was 7.00%
- Bank Rate – 6.75 % earlier it was 7.00%
- The adjacent coming together of the MPC is scheduled on Dec 6 in addition to 7, 2016 in addition to its resolution volition last announced on Dec 7.