Highlights of RBI monetary policy
Mumbai: Following are the highlights of the first bi-monthly monetary policy announced by the RBI on Thursday:
►Short-term lending rate (repo) reduced by 25 bps to 6 pc;
►This is second back-to-back rate cut;
►RBI maintains Neutral stance on the monetary policy;
►Four out of six MPC members voted in favour of rate cut;
►GDP growth projection lowered to 7.2 pc for 2019-20;
►RBI revises downward retail inflation estimate to 2.4 pc in Q4 FY19.
►MPC notes output gap remains negative and domestic economy facing headwinds;
►Next monetary policy statement on June 6.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Davangere South bypoll: Congress ahead by narrow lead after 14th round
Davangere: The Congress candidate is leading in the Davangere South Assembly by-election after the completion of the 14th round of counting.
According to the latest figures, the Congress has secured 46,460 votes, while the BJP stands at 39,037 votes, trailing by 7,423 votes.
The SDPI candidate has polled 15,303 votes so far.
Counting is still underway, and final results are awaited.
