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'RBI reviewing monetary policy framework change'
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SME Times News Bureau | 15 Feb, 2020
The Reserve Bank of India is currently examining if there is a need to
bring any change in the monetary policy framework and that, if required,
it will talk to the government, Governor Shaktikanta Das said on
Saturday.
"The monetary policy framework is in operation for the
last three years. We are reviewing and analysing it internally as to how
the MPC framework has worked. At an appropriate time, if required,
we'll have discussion with the government," said the RBI governor at a
media conference after he met the Finance Minister on the customary
Budget briefing.
"At the moment it (the framework) is under review within RBI," he said.
On
February 6, the six-member Monetary Policy Committee (MPC) headed by
Das, for the second meeting in a row, kept repo rate unchanged at 5.15
per cent but maintained the accommodative policy stance, which implies
it was biased in favour of cutting rate to boost growth.
At present, the Monetary Policy Committee meets every two months to discuss the economy.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 10 Jul, 2020 |
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