Monetary policy LIVE: RBI keeps repo rate unchanged at 6%

2:42 PM Since the last meeting of the MPC in October 2017, global economic activity has been gaining momentum through the final quarter of the year, driven mainly by advanced economies (AEs).

2:41 PM RBI's decision is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. The main considerations underlying the decision are set out in the statement below.

2:41 PM Banks' foreign branches can refinance AAA cos' FX loans

2:40 PM RBI: Ease of biz rankings to help sustain FDI flows

2:40 PM RBI: Ease of biz rankings to help sustain FDI flows

2:40 PM Monetary policy committee sees capital market funds get deployed for new projects

2:39 PM Monetary policy committee feels some recent developments favourable to growth

2:39 PM MSF, Bank Rate remains unchanged at 6.25%

2:39 PM MPC committed to keep CPI close to 4 per cent on durable basis

2:38 PM

2:38 PM FY18 Real GVA growth aim stays at 6.7% with risks evenly balanced

2:38 PM CPI seen 4.3-4.7% Oct-Mar including rent allowance hike

2:38 PM Monetary Policy Committee votes 5:1 to maintain status quo on Repo rate

2:37 PM Q3, Q4 CPI inflation likely to be in the range of 4.3-4.7 per cent

2:36 PM RBI reiterated that it is maintaining a "neutral" stance in monetary policy.

2:34 PM RBI increases inflation forecast

2:34 PM Reverse Repo at 5.75%

2:32 PM RBI maintains status quo 

2:31 PM Urjit Patel keeps repo rate unchanged at 6%

2:29 PM RBI policy decision in few minutes 

2:28 PM With inflation trajectory likely to remain upward in the coming months, many analysts see a prolonged pause from RBI. 

2:27 PM RBI is also expected to retain its "neutral" stance, while cautioning about inflation, which accelerated to a seven-month high in October.

2:22 PM RBI's stance on liquidity would also be closely watched. Excess liquidity with banks is down to around Rs. 70,000 crore from a peak of more than Rs. 5 lakh crore in March, according to the Bloomberg Economics India Banking Liquidity Index. That has led State Bank of India and the Punjab National Bank - large state-run lenders - to raise rates on bulk deposits.

2:20 PM With concerns over government's fiscal deficit and rising global crude oil prices, the RBI is likely to reiterate a "neutral" stance, say analysts.

2:14 PM Analysts expect the RBI to reiterate concern about inflation, as the annual rate of consumer inflation increased to 3.58 per cent in October, not far from the central bank's 4 per cent target.

2:10 PM "In the wake of significant spurt in the valuation of many VCs and rapid growth in Initial Coin Offerings (ICOs), RBI reiterates the concerns," the central bank said in a statement.

2:09 PM Reserve Bank of India (RBI) has cautioned the "users, holders and traders" of Bitcoins about the security related risks associated in dealing with such virtual currencies (VCs).

1:53 PM In August, the RBI made its only cut in 2017, of 25 basis points, and in October, it held.

1:51 PM

1:50 PM Nifty PSU Bank index slips over 1% ahead of RBI policy outcome

12:37 PM ALSO READ: Rate cut or status quo? RBI policy meet begins; decision on rate today

12:35 PM Even as experts rule out a rate cut, some say the RBI might soften its tone somewhat and sound more accommodative

12:29 PM Since the economic growth, despite its apparent recovery, is still behind target, there have been calls from some government officials for the RBI to trim the repo rate again.

12:28 PM ALSO READ: Q2 GDP growth raises some hope, but meeting FY18 forecast still not easy

12:27 PM For the country to be able to come anywhere close to the full financial year target, the manufacturing and services sectors of the economy will need to do exceptionally well, wrote A K Bhattacharya in a recent Business Standard piece

12:24 PM Despite a recovery when compared with the previous quarters, the Q2 GDP numbers are still well below the 8% target for the 2017-18 financial year

12:23 PM Radhika Rao, an economist with DBS in Singapore, had said: "The recovery is a source of comfort for RBI, as it lowers pressure on the central bank to take a growth-supportive stance."

12:22 PM Official data released last week showed a recovery in India's GDP growth during the July-September quarter to 6.3 per cent on a year-on-year basis, compared with 5.7 per cent during the previous quarter

12:20 PM "It's going to be a status quo. The liquidity in the system is very low, deposit rates are firming up and there are concerns about inflation," Reuters quoted Union Bank MD and CEO Rajkiran Rai G as saying in a recent report

12:19 PM However, not many experts hope the RBI would effect a rate cut in its first meeting of 2018 calendar year, either

12:18 PM The central bank is expected to reiterate a "neutral" stance, which will give it the flexibility to cut rates in February

12:14 PM Similarly, all 10 economists and bond dealers polled by Business Standard said the policy repo rate was expected to stay put at six per cent

12:13 PM 52 of the 54 analysts polled by Reuters said the repo rate would be left at 6%, which is already the lowest level since November 2010

12:12 PM Another reason for RBI if it considers a rate cut would be core inflation (excluding food and energy prices), which has remained stubbornly high -- at around 4.5% in October

11:47 AM Also, stronger GDP growth in the secon quarter of this financial year (July-September) has reduced the need for a monetary stimulus

11:46 AM

11:42 AM It is widely believed that the RBI would not effect any rate cut amid rising inflation levels 

11:42 AM While the government would want the RBI to loosen its monetary policy stance and effect a repo rate cut, experts see the central bank maintaining the status quo today

11:41 AM The Reserve Bank of India will today announce the outcome of its monetary policy committee's two-day bimonthly policy meet