New Delhi: Reserve Bank Governor Shaktikanta Das on Saturday said transmission of rate cuts is expected to improve further in the coming days and that momentum is gathering pace on credit growth.
Earlier this month, the central bank opted for a status quo on the benchmark interest rate, amid signs of hardening inflation and an uncertain global environment.
Transmission of rate cuts is slowly and steadily improving, Das told reporters after the RBI's board meeting here, adding that it is expected to improve further.
Finance Minister Nirmala Sitharaman also addressed the board of the central bank.
Major statements of RBI governor Shaktikanta Das at the press meet
- On the Supreme Court's order on AGR dues; it will be internally deliberated upon if at all there are issues arising out of it
- We do expect credit growth to pick up in coming months
- The Budget proposals were not inflationary and the drop in crude prices should check the inflation in near future
- Credit flow to the corporate sector is expected to improve in the coming months from all sources like banks, external borrowings
- RBI 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
Major statement of Finance Minister Nirmala Sitharaman at the press meet
- The government is monitoring farm credit given by banks in rural areas, expects to meet the increased target of Rs 15 lakh crore for the next fiscal.
(Input from Agencies)
