Not surprisingly, the RBI's off-the-mark inflation projections drew criticism, with some questioning whether the 50 basis points in rate hikes announced in 2018 were necessary.
When asked about transmission and banks' reluctance to pass on the rate decreases to borrowers, Das said it is up to the individual banks to take a call on their lending, underlining that the RBI only gives a directional move.
Marc Gasol headed to Raptors as trade deadline heats up
Prior to the trade, Valanciunas was expected to return to the Raptors' lineup against the Atlanta Hawks on Thursday night. Memphis discussed deals with multiple teams, but ultimately made a decision to hold on to their franchise point guard.
The Reserve Bank lowered the policy rate by 25 bps to make the most of the space offered by the softening in prices, and will deliver more on the rate front if its lower inflation estimates are achieved, governor Shaktikanta Das said on Thursday.
The central bank projected GDP growth for 2019-20 at 7.4 per cent. The central bank also announced that the limit of collateral-free agriculture loans was being raised from Rs 1 lakh to Rs 1.6 lakh. Das also reaffirmed the RBI's commitment to ensure there is adequate liquidity available in the market saying no sector in the economy will be starved of growth funds. The repo rate cut will lead to a decrease in EMIs on Home Loans, Car Loans and Personal Loans as the banks would likely decrease the interest rates.
"Investment activity is recovering but supported mainly by public spending on infrastructure", the MPC said in a statement. "The need is to strengthen private investment activity and buttress private consumption", the MPC statement said.
Ben Barba facing Super League ban
NRL CEO Todd Greenberg deregistered Barba on Tuesday and said he couldn't foresee any way back for the former Dally M Medallist. He left the Sharks after being suspended for 12 weeks for a second breach of the NRL's illicit drugs policy.
Trade tensions and associated uncertainties appear to be moderating global growth, the bank said. Taking into consideration key factors such as lower food inflation, moderation in the fuel group, recent unusual pick-up in the prices of health and education, crude oil prices outlook and moderation in inflation expectations of households, the CPI inflation is revised downwards to 2.8 per cent in fourth quarter of 2018-19 and 3.2-3.4 per cent in first half 2019-20 and 3.9 per cent in third quarter of 2019-20, with risks broadly balanced around the central trajectory.
"Headline inflation is expected to remain contained below or at its target of 4%". This could allow the RBI more elbow room to lower lending rates, eventually bringing down borrowing costs for individuals and corporate houses. "Growth in rural wages moderated in October", RBI said.
Gaurav Dua, Head of Research at Sharekhan by BNP Paribas, said the change in stance to "Neutral" and dovish commentary open doors for further rate cuts going ahead.
Mavericks trade Harrison Barnes to Kings for Justin Jackson, Zach Randolph
Harrison Barnes lived out most National Basketball Association players' worst nightmare on Wednesday night. The Kings will have $21 million in room if Barnes opts in or $45.2 million if he declines his option.