Reserve Bank governor claims to take premature action to reduce repo rate

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Mumbai, Ta. December 16, 2019, Monday

Reserve Bank Governor Shaktikant Das said that the Reserve Bank saw economic growth slow in February, which led to an immediate cut in interest rates but could not understand why the market was surprised when the rate rate was maintained.

Emphasizing the need for informed and objective discussion of the country's economy, he said that the Reserve Bank will take every necessary steps to tackle the economic downturn and rise in inflation.

In addition, every step will be taken to ensure the health of the banks and non-bank lenders. He also hoped that the treaty between China and the United States on the issue of tariffs would be long-lasting and efforts would be made to increase global development.

Since February this year, the Reserve Bank has reduced the repo rate by 5 basis points. Both the RBI and the government have taken steps ahead of time.

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