Weakening domestic growth impulses prompted RBI for rate cut: Minutes of MPC meet

Four of the six MPC members had voted in favour of a 25 basis points reduction in the repo rate.

RBI says it will issue Rs 50 banknotes signed by Guv Das

All banknotes in the denomination of Rs 50 issued by the Reserve Bank in the past will continue to be legal tender.

India’s current account deficit is expected to be around 2.5 per cent of GDP in 2018-19.

Among others, RBI Governor Shaktikanta Das is also slated to attend the IMF-World Bank meetings.

Banks had to treat a company as a defaulter even if it missed the repayment schedule by a day.

Repo rate is the key interest rate at which the RBI lends short-term funds to commercial banks.

The rate cut is a blessing to the Narendra Modi government with the elections just a week away.

The decision has been taken with a view to improve the ease of undertaking forex transactions.

Shaktikanta Das told reporters that the RBI goes with the official statistics prepared by the Central Statistics Office.

Supreme Court had on Tuesday quashed RBI circular that pertains to provisions for referring the defaulter to NCLT.