RBI Monetary Policy Committee Meeting LIVE: RBI Governor Says Inflation To Rise In Near Term Fuelled By Higher Oil, Food Prices

RBI Governor Sanjay Malhotra, during the post-policy conference, said that 6.7 per cent growth is an estimate that we have given and also mentioned that risks are evenly balanced on both sides. We also give a fan chart, and it suggests the possibility that growth may be 7 per cent.

RBI Governor Sanjay Malhotra, during the post-policy conference, said that polymer notes will be introduced at the beginning of the next financial year. He said that polymer notes enhance durability and life. Polymer notes also expand capacity as the needs of the economy increase.

RBI Governor Sanjay Malhotra, during the post-policy conference, said that we obviously need more banks, but whether it is coming or not, there is no such proposal.

RBI Governor Sanjay Malhotra, during the post-policy conference, said strengthening of the rupee is possible if geopolitical tensions de-escalate.

RBI Governor Sanjay Malhotra, during the post-policy conference, said that there is no proposal to prematurely terminate the FCNR (B) scheme.

Stock market benchmark index Sensex traded higher, while the Nifty quoted flat after RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain the short-term lending rate or repo rate at 5.25 per cent with a neutral stance while announcing the third bi-monthly monetary policy for the current fiscal.

The 30-share BSE Sensex climbed 246.79 points to 78,675.74 in late morning trade. The 50-share NSE Nifty, however, quoted 22.30 points down at 24,590.85. The indices have been facing divergence since Monday after stock exchanges introduced a new auction mechanism for shares having futures and options (F&O) contracts.

The Reserve Bank of India kept key interest rates unchanged for the third time in a row this financial year as it weighed the impact of uncertain energy prices and supply disruptions caused by the ongoing West Asia crisis.

Announcing the third bi-monthly monetary policy for the current fiscal. Brent crude, the global oil benchmark, traded 0.79 per cent lower at USD 78.72 per barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 2,446.47 crore on Tuesday, according to exchange data.

In Asian markets, South Korea's KOSPI jumped 4.19 per cent and Japan's Nikkei 225 index climbed 3.61 per cent. Shanghai's SSE Composite index and Hong Kong's Hang Seng index were also trading higher. In the previous session, the Sensex declined 210.08 points, or 0.27 per cent, to settle at 78,428.95. The Nifty dropped 159.40 points, or 0.64 per cent, to end at 24,614.90

According to the RBI, moderation in global trade, surge in energy prices, and persistent trade policy uncertainties pose upside risks to India's Current Account Deficit

RBI Governor Sanjay Malhotra said that credit growth remains robust and broad-based, and the central bank will ensure sufficient liquidity in the system.

RBI Governor Sanjay Malhotra said that the average liquidity in the banking system remained above Rs 1 lakh crore since June

RBI Governor Sanjay Malhotra said that RBI lowers CPI inflation projection to 5 pc from the earlier estimate of 5.1 pc for FY27

RBI Governor Sanjay Malhotra said that the RBI marginally raises GDP growth forecast to 6.7 pc from the earlier projection of 6.6 pc for FY27

RBI Governor Sanjay Malhotra said that the renewed tensions in West Asia, volatility in global markets and El-Nino downside risks to growth

RBI Governor Sanjay Malhotra said that the Indian economy has performed better than expected in the April-June quarter of this fiscal.

RBI Governor Sanjay Malhotra said, "Headline inflation to rise in the near term, fuelled by higher oil and food prices; to peak in Q3 before starting to decline.

Reserve Bank of India (RBI) Governor Sanjay Malhotra announced that the repo rate has been kept unchanged at 5.25%. He announced this after the RBI Monetary Policy Committee meeting today.