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RBI MPC announcements on April 5, 2024: Fixed Deposit (FD) investors will keenly watch the Reserve Bank of India s (RBI) first Monetary Policy Committee (MPC) meeting of the new financial year, scheduled for this week. RBI Governor Shaktikanta Das will unveil the MPC s decisions on interest rates on Friday, April 5, 2024. The repo rate, the benchmark interest rate set by the RBI, serves as a key determinant of FD interest rates. RBI monetary policy announcement is crucial for FD investors seeking clarity on the future trajectory of interest rates. How FD interest rates are likely to change in the next few months and how FD investors can make the most of this scenario ....
The head of the Reserve Bank of India (RBI) has urged banks to lend their surplus funds to their peers rather than depositing them at a central bank facility. Shaktikanta Das stated that it is more desirable for banks to explore lending opportunities in the interbank call market, rather than passively parking funds in the standing deposit facility at less attractive rates. The Indian banking system has been facing a liquidity deficit, and Das believes that greater volume of call money transactions would help deepen the interbank money market and lower the reliance on the marginal standing facility. ....