Repo rate is the rate at which the RBI lends money to commercial banks. A repo rate cut allows banks to reduce interest rates for consumers and lowers equal monthly instalments on home loans, car loans and personal loans.
The Reserve Bank of India has cut policy rates by 135 basis points since early 2019 and maintains an accommodative stance
Gross tax revenues rose by a muted 1.5 per cent in H1 FY20, considerably undershooting the 18.3 per cent growth included in FY20 revised budget estimate, with a modest rise in direct taxes and a contraction in indirect tax collections.
Three years of Demonetisation: The Indian Youth Congress protesters raising slogans, carrying placards and flags of Indian Youth Congress (IYC) were stopped a few metres away from RBI building on Parliament Street by Delhi Police personnel.
The FIR was registered under Sections 409 (criminal breach of trust), 420 (cheating), 465 (forgery), 466 (forgery of record of court or public register), 471 (using a forged document as genuine) and 120B (criminal conspiracy).
Hong Kong shares were down by 1.11 per cent with fragile sentiment as the territory's government mulls emergency laws to contain months of often violent protest against China's rule of the former British colony.
Finance Minister Nirmala Sitharaman on Friday slashed the effective corporate tax rates to 25.17 per cent (inclusive of all cess and surcharges) from 30 per cent for all domestic companies.
It may be recalled that the RBI in consultation with the Government of India had constituted an Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India under the chairmanship of Dr Bimal Jalan.
Hiranandani said the sector is facing major challenges like delay in land acquisition, lack of skilled workforce and high development rates which should be addressed by the government in collaboration with apex trade bodies.
In light of the challenges that lie ahead for the economy, Das said monetary and fiscal policies need to be well-calibrated to support growth.