MENU

Published on 8/08/2019 4:49: | Source: ANI

35-basis-point rate cut a `balanced call`: RBI Governor

Posted in Business Videos| #Business

Now Get InvestmentGuruIndia.com news on WhatsAppClick Here To Know More

For more videos Subscribe now! https://bit.ly/2YrTXdM and stay connected with us

Mumbai

After the Reserve Bank of India slashed the key lending rate by 35 basis points to 5.4 per cent; Governor Shaktikanta Das termed the cut a balanced call by the Monetary Policy Committee (MPC) in view of the current economic condition, and said a 50-basis point cut could have been excessive. Das explained the decision of the MPC when asked whether the RBI had more space to cut the repo rate, and whether similar decisions could be expected in the future. RBI slashed the key interest rate, at which it lends money to banks, for the fourth straight time. One basis point equals to one hundredth percentage point.