NEW DELHI Senior Indian government officials say the Reserve Bank of India should have cut interest rates more aggressively on Wednesday, signalling fresh tensions between New Delhi and the Mumbai-based central bank on how to revive economic growth and create jobs.
MUMBAI The Reserve Bank of India on Wednesday used the room provided by slumping inflation to cut its main policy rate - the first easing by an Asian central bank this year - but it kept the market guessing on whether there's more space for trimming.
MUMBAI The Reserve Bank of India will continue to drain surplus liquidity from the banking system gradually without destabilising the market, Deputy Governor Viral Acharya said after the central bank's monetary policy meeting on Wednesday.
MUMBAI The Reserve Bank of India is "comfortable" with interest rates being "slightly" higher than its stated preference of having a difference between the repo rate and the inflation target of 1.75 percent, Deputy Governor Viral Acharya said on Wednesday.
The Reserve Bank of India cut its policy rate on Wednesday by 25 basis points to 6 percent, the lowest since November 2010, as slumping inflation allowed the central bank to focus on boosting an economy growing at the slowest pace in over two years.