No changes in interest ratio - RBI
Posted on: 07/Dec/2017 10:17:05 AM
A meeting regarding the prevalent financial condition of the RBI and the review of policies was conducted by the Reserve Bank of India, presided by the RBI governor Ujit Patel.
No changes were carried out in the meeting regarding the prevailing interest ratio. So, the present interest ratio will continue.
Accordingly, RBI has informed that the short-term interest ratio for banks will be 6%, cash-on-hand will have 4%, SLR will be 19.5%, Reverse Repo Ration will be 5.75%.
RBI governor Urjit Patel had explained that the inflation in the current financial year 3rd and 4th Quarters may be 4.3% - 4.7%. The growth rate will be 6.7%.
The prospects of reducing the debit card charges will be taken up for a review in order to encourage digital financial transactions.
