Thread by @PIBMumbai

Watch @RBI Governor @DasShaktikanta's address on #MonetaryPolicy, today at 10 AM

📅 - 06 August
Live from ⏰- 10 AM

Monetary Policy Address🎥:

Post policy Media conference today at 12:00 Noon
PC Link:

📡LIVE Now📡

#MonetaryPolicy Statement by @RBI Governor @DasShaktikanta

Watch

MPC voted unanimously to leave Policy Repo Rate unchanged at 4%

Also decided on a 5 to 1 majority to continue with the accommodative stands as long as necessary to revive growth on a durable basis and continue to mitigate the impact of #COVID19

- @RBI Governor @DasShaktikanta

#MonetaryPolicy

Marginal Standing Facility (MSF) Rate and Bank Rate remain unchanged at 4.25%

Reverse Repo Rate also remain unchanged at 3.35%

- @RBI Governor @DasShaktikanta

Live Now :

Today we are in a much better position than at the time of meeting of the MPC in June 2021

Vaccine manufacturing and administration are steadily raising; yet the need of the hour is not to drop our guard and to remain vigilant against any possibility of 3rd wave

- @RBI Gov.

Economic activity has broadly evolved on the lines of the MPC's expectation in June and the economy is recovering from the setback of the second wave

- @RBI Governor @DasShaktikanta

Live Now :

Inflationary pressures are evoking concern. But current assessment is that these pressures are transitory and largely driven by adverse supply side factors

- @RBI Governor @DasShaktikanta

Live Now :

Conduct of #MonetaryPolicy during the #Pandemic has been geared to nurture conditions that rejuvenate growth

Continued policy support from all sides - monetary, fiscal and sectoral is needed to nurture the hesitant recovery

- @RBI Gov. @DasShaktikanta

High frequency indicators (3 aspects of growth) suggest that :

1⃣Consumption – both Private and government
2⃣Investment
3⃣External demand

are all on the path of regaining traction

- @RBI Gov. @DasShaktikanta

Further easing of restrictions and increasing coverage of #Vaccination are likely to boost private spending on Goods & Services incl. travel, tourism and recreational activities

- @RBI Gov. @DasShaktikanta

Robust outlook for agriculture and rural demand would continue to support private consumption

Urban demand likely to accelerate with recovery in manufacturing, non contact intensive services, release of pent up demand and the pace of #Vaccination

- @RBI Gov. @DasShaktikanta

Results of July round of Reserve Bank's Consumer Confidence Survey suggest that 1 year ahead sentiments return to optimistic territory from historic lows

- @RBI Gov. @DasShaktikanta

With the #COVID second wave ebbing, domestic economic activity has started normalizing

– @RBI Gov. @DasShaktikanta

Innovation and working models adopted during the #Pandemic by businesses will continue to reap efficiency and productivity gains even after Pandemic recedes

This should help trigger a virtuous cycle of investment, employment & growth

– @DasShaktikanta

Projection for real GDP growth is retained at 9.5% for 2021-22

Quarterly Breakup:

For Q1 - 21.4 %
For Q2 - 7.3 %
For Q3 - 6.3 %
For Q4 - 6.1 %

- @RBI Governor @DasShaktikanta

#MonetaryPolicy

Real GDP growth for Q1 (2022-23) next FY is projected at 17.2%

- @RBI Governor @DasShaktikanta

#MonetaryPolicy

.@RBI projects Consumer Price Inflation at 5.7% during FY 2021-22

RBI Governor @DasShaktikanta says inflationary pressure would ease around Q3 following Kharif harvest and supply side measures.

#MonetaryPolicy

🎥

Projection for CPI Inflation Rate - 5.7% during FY 2021-22

For Q2 - 5.9 %
For Q3 - 5.3%
For Q4 - 5.8%

- @RBI Governor @DasShaktikanta

#MonetaryPolicy

.@RBI proposes to conduct 2 more auctions of Rs 25,000 Crores under G-sec Acquisition Programme (G-SAP 2.0) on 12th August and 26th August 6, 2021

#MonetaryPolicy

G-SAP has been successful in anchoring yield expectation while eliciting keen response from market participants

- @RBI Governor @DasShaktikanta

#MonetaryPolicy

Amount absorbed under the Fixed Reverse Repo is expected to remain more than ₹ 4 Lakh Crore at the end of September 2021

- @RBI Governor @DasShaktikanta

#MonetaryPolicy

Introduction of Uniform Price options announced recently for issuance of securities up to 14 years tenure is expected to mitigate the risks billers may face in primary segment

- @RBI Governor @DasShaktikanta

#MonetaryPolicy

Govt.'s decision to accommodate #GST Compensation payment to States/UTs for first half of the year within the existing cash balances should assuage the market concerns on the size of the Govt.'s borrowing programme this year

- @DasShaktikanta

@GST_Council @Infosys_GSTN

After the onset of #Pandemic, @RBI has announced more than 100 measures to mitigate the impact of the #COVID19 Pandemic

- #RBI Gov. @DasShaktikanta

#MonetaryPolicy

.@RBI is taking measures in consultation with #Banks and market bodies to ensure that the transition away from London Inter Bank Offered Rate LIBOR is orderly and not disruptive

Gov. @DasShaktikanta

#MonetaryPolicy

#RBI's additional Measures:

1. Extension of On-tap TLTRO Scheme deadline
2. Ext. in MSF Relaxation period
3. LIBOR Transition, Review, Export Credit, Restructuring of Derivative Contracts
4. Deferral of Deadline- Achievement of Financial Parameters under Resolution Framework 1.0

@threader_app Unroll

Repo rate remains unchanged at 4%; GDP growth projection for FY 2021-22 retained at 9.5%

CPI Inflation expected at 5.7% for FY 2021-22

Highlights of @RBI Governor @DasShaktikanta's #MonetaryPolicy Address 👉
pib.gov.in/PressReleasePa…