Highlights of RBI's monetary policy statement
Mumbai: Following are the highlights of the second bi-monthly monetary policy announced by the RBI on Thursday:
►Repo rate reduced by 25 bps to 5.75 pc for third time in a row
►Reverse repo rate now stands at 5.50 pc, marginal standing facility (MSF) rate 6 pc
►RBI changes policy stance to accommodative from neutral
►Cuts GDP growth forecast to 7pc from 7.2 pc for FY20
►Raises retail inflation forecast for Apr-Sept to 3-3.1 pc and 3.4-3.7 pc in Oct-Mar
►Projects upward bias in food inflation in near term due to rising prices of food items
►Forecast risks to inflation trajectory from monsoon uncertainties, unseasonal spike in vegetable prices, crude oil prices, financial market volatility and fiscal scenario
►Waives RTGS and NEFT charges to promote digital transactions
►Sets up a panel to review ATM charges, fees levied by banks
►To issue draft guidelines for 'on tap' licensing of small finance banks by Aug
►Flags sharp slowdown in investments, moderation in private consumption growth as concern
►All six MPC members voted in favour of 0.25 pc policy rate cut
►Average daily surplus liquidity in the system at Rs 66,000 crore in early June
►Foreign Exchange Reserves stood at USD 421.9 billion on May 31, 2019
Next monetary policy statement on August 7.
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Defamatory post against Dharmasthala Veerendra Heggade: Case registered against Girish Mattannavar
Belthangady: A case has been registered at Dharmasthala police station against Girish Mattannavar over a complaint regarding alleged defamatory posts on social media against Dr. D. Veerendra Heggade, Dharmadhikari of Sri Kshetra Dharmasthala.
The complaint was filed by Subrahmanya Prasad, a resident of Dharmasthala.
The complainant stated that Mattannavar posted content on Instagram making allegations against Dr. Heggade and allegedly affecting his reputation.
Based on the complaint, a case was registered under Section 353(2) of the Bharatiya Nyaya Sanhita (BNS), which is related to spreading false information, rumours, or alarming news, on April 18, and the investigation is in progress.
Following information about Mattannavar’s appearance at the SIT office on May 7, a police officer from Dharmasthala police station issued a notice directing him to appear at the station within a week.
