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RBI Monetary Policy Review: No change in interest rates

RBI Monetary Policy Review: No change in interest rates

The Reserve Bank of India (RBI) on Wednesday decided not to change key interest rates in its second bi-monthly monetary policy review. RBI Governor Urjit Patel- led Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.25 percent. Consequently, the Reverse Repo Rate stands at 6 percent while the CRR remains at 4 percent. However, RBI has however slashed the Statutory Liquidity Ratio (SLR) or the percentage of deposits that banks have to park in government securities, by 0.5 percent to 20.5 percent, a move that would result increased lending by banks. “The current state of the economy underscores the need to revive private investment, restore banking sector health and remove infrastructural bottlenecks. Monetary policy can play a more effective role only when these factors are in place,” RBI...

Reserve Bank of India planning to introduce Rs 200 note with security features

Reserve Bank of India (RBI) is planning to come out with Rs 200 currency note anytime soon. As per sources, the note will carry new security features. In addition, the government is mulling over a plan to bring out certain changes every 3-4 years in security feature of Rs 500 and Rs 2,000 notes in order to tackle the menace of fake currency. The entire exercise is being planned after large number of fake currency notes were busted post demonetisation period. According to sources, a meeting on this issue was chaired by high level officials in the government last...
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