(Livemint)
The Reserve Bank of India (RBI) released its fifth bi-monthly monetary policy statement for 2019-20 in which the Monetary Policy Committee (MPC), led by Governor Shaktikanta Das, decided to keep the policy repo rate unchanged at 5.15%. In 2019, the RBI has cut repo rate by 135 basis points so far to a nine-year low of 5.15%. Analysts were expecting another 25 basis points cut.The RBI said it is against any kind of private digital currency as currency is a soveriegn function.
The apex bank, has however started initial discussions to launch its own digital currency. “If the technology evolves then the RBI will certainly look into it,” Shaktikanta Das said. On HDFC Bank’s technical glitch, which affected netbanking and app services, the apex bank said its team has gone to find out the reason and what directions can be given in the case.On the PMC Bank issue, Das said valuers are assessing the realisable values of assets mortgaged by the companies and other assets identified by the ED and economic offences wing.
