RBI MPC Meeting Highlights: RBI Governor Shaktikanta Das has kept the repurchase rate unchanged once again at the latest monetary policy committee meeting. The stance is also unchanged at the meeting that concluded today. In another important announcement, the RBI governor said that the Real Time Gross Settlement (RTGS) payment system will be available 24 hours a day for 365 days. The latest move is likely to increase the ease of doing business as LBTR is used to transact a larger amount of money. While the central bank raised banks’ retail portfolio limits at 7.5cr relative to fresh loans and rated exposure, rationalized risk weights for all home loans through March 31, 2022. RBI expects recovery economic is a 3-speed recovery, with variations between sectors. While manufacturing companies may see capacity utilization in the third quarter, the agriculture, consumer goods, energy and pharmaceutical sectors are likely to see a faster recovery, Shaktikanta Das added. Meanwhile, the RBI governor said that real GDP in the current fiscal year may contract by 9.5 percent.
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