WPI inflation had remained negative for four months -- April (-) 1.57 per cent, May (-) 3.37 per cent, June (-) 1.81 per cent and July -0.25 per cent -- as coronavirus induced lockdown hurt economic activity

Retail inflation jumped to 7.34 per cent in September, mainly on account of higher food prices, official data showed on Monday

The RBI's decision broadly mirrors the stance adopted by a number of central banks in advanced economies (AE), while it diverges considerably from those of emerging market economies (EMEs) that continued to cut rates through Q2 and Q3 of 2020

The economists at SBI believe that India's GDP will remain in negative territory in all the four quarters of FY21 and any positive growth will be seen only in FY22

The RBI has kept the retail inflation target of 4 per cent with a bias of plus/minus 2 per cent

While high inflation was a major stumbling block for the monetary policy committee (MPC) to reduce the repo rate, the Governor expects retail inflation or CPI to come closer to the targeted level by the fourth quarter

India will be among a select few countries to have this facility. For this, payment system operators to be licenced on a perpetual basis, says RBI Governor Shaktikanta Das 

MPC meet: Governor Das said that India is likely to witness a three-speed recovery with individual sectors showing varying paces depending on sector-specific realities

MPC Meet Live Updates: Shaktikanta Das says the monetary policy committee has voted unanimously to keep repo rate unchanged; India will see a \"3-speed recovery\", though it will vary from sectors-to-sectors, says the RBI Governor

MPC meet today: Experts believe the policy rates are likely to remain unchanged, primarily due to high inflation levels for over five months now; RBI's panel to also give guidance on India's economic performance amid the coronavirus pandemic in India

Rangarajan said RBI's monetary policy is \"consistent\" under the present circumstances and as a result banks have adequate liquidity for more lending

London public transport watchdog bans Ola citing 'public safety' risks; Paytm takes on Google Play Store, launches its own mini-app store; TCS becomes second Indian firm to cross Rs 10 lakh crore market cap. Watch this and more on News Blast.Also Read: Three new members appointed to RBI's MPC; monetary policy meet on October 9

The RBI had to reschedule the meeting from Sept. 29 to Oct. 1 as the government had not appointed three new external members on the committee

The next meeting of the RBI's monetary Policy Committee (MPC) is scheduled during October 7 to October 9, 2020

The economy has been going through a phase of stagflation. Here is what this means

The Reserve Bank of India (RBI) on Monday said that a meeting of monetary policy committee (MPC) for this week has been rescheduled

It would be naive to expect agriculture providing jobs to about 43% of the workforce and sustaining 70% of the population living in rural India with a meagre share of 14.5% in national income (GDP) to drive growth, especially when it is going through unprecedented job and income loss

Once again retail inflation remained above Reserve Bank of India's medium term target of 4-6 per cent, which means a rate cut is not likely to happen in the next monetary policy meet

Retail inflation so far has been in the tolerance range of MPC except for breach in July. In June, retail inflation was 6.09 per cent.  At the same time, WPI inflation in June was at (-) 1.81 per cent, while for the month of May and April it was (-) 3.37 per cent and (-) 1.57 per cent respectively

The review of Monetary Policy Committee framework is an essential requirement to set the policy rates or interest rates in the country. The first five years of the Reserve Bank of India's MPC, which got a mandate to keep the consumer price index or retail inflation at 4 per cent with a band of plus and minus 2, is about to end in March next year. Watch as Anand Adhikari, Executive Editor, Business Today explains why there is a need for a comprehensive review of RBI's MPC framework in India.Also Read: Goldman Sachs expects India's economy to rebound by 2021