THE FIFTH CUT this year

The monetary policy committee was of the view that continuing slowdown warrants intensified efforts to restore growth momentum"

"As long as the growth momentum remains as it is, and till growth is revived, RBI will continue to remain in an accommodative mode"

"As of now, the government has stated that will adhere to the fiscal deficit target. We have, therefore, no reason to doubt the commitment of the government to maintain the fiscal deficit numbers as given in the budget"

"I am not aware of any…demand from the government for payment of interim dividend"

"RBI will endeavour to ensure that we do not encounter failure of another large systematically important NBFC. With that objective we are monitoring them

"Based on our review, we will take a fresh look at the regulatory framework of the cooperative banks. If any changes are required, we will take up the matter with the government" — Shaktikanta Das,

Governor RBI

◗ Repo rate reduced by 25 bps to 5.15% in the fifth rate cut in 2019

◗ GDP growth forecast lowered for current fiscal to 6.1% from 6.9% earlier

◗ RBI continues with the ‘accommodative’ monetary stance

◗ Retains retail inflation projection for second half of fiscal at 3.5-3.7%

◗ Foreign exchange reserves stood at $434.6 bn on Oct 1, up $21.7 bn over March

◗ All members of Monetary Policy Committee voted for rate cutNext monetary policy review meet scheduled during Dec. 3-5