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Home / News / India News / Monetary Policy Committee to rely on demonetization for rates?
  • India

    Monetary Policy Committee to rely on demonetization for rates?

    Sneha Johny
    Written by
    Sneha Johny
    Mail
    Last updated on Jan 30, 2017, 05:21 pm
    Monetary Policy Committee to rely on demonetization for rates?
  • After the sudden announcement of withdrawing nearly 85% of the economy's currency in circulation, industry experts predict that lesser cash availability might trigger a rate cut in the upcoming policy meet.

    Although the incentives to boost growth are many, analysts state that the economy should pause and obtain data to support lower rates.

    They also said the committee should wait for a Fed move.

  • In this article
    India's demonetization move Demonetization : Monetary repercussions Demonetization expected to top RBI policy meet agenda Analysts expect RBI to maintain rates Monetary Policy Committee to rely on demonetization for rates?
  • 08 Nov 2016

    India's demonetization move

    India's demonetization move
  • Earlier this month, Prime Minister Narendra Modi took a major economic step by abolishing high-value currency notes in the country.

    The Prime Minister announced that all Rs.500 and Rs.1000 notes would be held invalid and in its place fresh Rs.500 and Rs.2000 notes would be issued by the banks.

    This was an effort to counter rising corruption and black money in the country.

  • Do you know?

    Demonetization : Monetary repercussions

  • Modi's latest move saw nearly 86% of the nation's currency notes in circulation being wiped out. Around Rs.6,32,600 crore in circulation was withdrawn from the economy.

  • 19 Nov 2016

    Demonetization expected to top RBI policy meet agenda

    Demonetization expected to top RBI policy meet agenda
  • With RBI's Monetary Policy Committee meetings surrounding inflation and growth targets, this time around analysts expect an urgent case for demonetization as a factor for a rate hike.

    After the demonetization became effective, reports stated that banks have collected nearly Rs.3 lakh crore, while the government expects deposits of Rs.11 lakh crore.

    Financial institutions have estimated lower lending rates due to this.

  • Quote

    Analysts expect RBI to maintain rates

  • "We expect the Reserve Bank of India (RBI) to maintain status quo in its upcoming monetary policy review in December 2016, despite the downward trend in retail inflation witnessed over the past four consecutive months," said Anuradha Basumatari, Associate Director at India Ratings.

  • 22 Nov 2016

    Monetary Policy Committee to rely on demonetization for rates?

    Monetary Policy Committee to rely on demonetization for rates?
  • After the sudden announcement of withdrawing nearly 85% of the economy's currency in circulation, industry experts predict that lesser cash availability might trigger a rate cut in the upcoming policy meet.

    Although the incentives to boost growth are many, analysts state that the economy should pause and obtain data to support lower rates.

    They also said the committee should wait for a Fed move.

  • India
  • Narendra Modi
  • Reserve Bank Of India
  • RBI
  • Prime Minister
  •  
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