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RBI keeps key rates unchanged to spur economic recovery

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RBI keeps key rates unchanged to spur economic recovery

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) voted on Wednesday to keep the benchmark repo rate and reverse repo rate unchanged at historically low levels because the central bank retained Asia’s gross domestic product (GDP) ) Growth targets. The growth rate of the third largest economy in the 2021-22 fiscal year is 9.5%.

For the ninth time, MPC maintains its bimonthly policy rate status, as policymakers weigh the impact of the latest variant of Covid-19, Omicron.

The repo rate remains unchanged at 4%, while the reverse repo rate remains at 3.35%. Marginal Standing Facility (MSF) and bank interest rates also remained unchanged at 4.25%.

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The repo rate refers to the interest rate at which commercial banks borrow funds by selling securities to the Reserve Bank, while the reverse repo rate is the interest rate at which the central bank borrows funds.

As India promotes its nascent economic recovery during the coronavirus pandemic, these lending rates are critical to boosting corporate credit and investment in the economy. , And continue to reduce the impact of Covid-19 on the economy, while ensuring that inflation remains within the target range,” the MPC resolution pointed out.

In the accompanying statement, Reserve Bank of India Governor Shakti Kantadas stated that price stability or keeping inflation within acceptable levels is still the “basic principle” of the central bank’s monetary policy.

Das told reporters: “In view of the economic weakness and continued activities to catch up, especially private consumption is still below the pre-pandemic level, continuous policy support is needed to achieve a lasting and broad recovery.”

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He added that the interference of new variants of the coronavirus may slow the recovery.

Complete News Source : Hindustan Times

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

The buses will start and currently serve Greater Noida and Jewar, even though the airport is probably not going to be operational by May By the end of May, the Delhi Transport Corporation (DTC) plans to begin operating electric buses from the Capital to the soon-to-be Noida International Airport (NIA) in Jewar, according to officials. The buses will begin at.

Delhi’s three Inter State Bus Terminals (ISBTs) — Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan — and currently serve Greater Noida and Jewar, even though the airport is probably not going to meet the May deadline to be operational The Delhi Transport Corporation (DTC) is set to launch.

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Electric bus services connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to enhance connectivity between the national capital and the new airport, providing a March 2025, DTC and NIA signed operate thesesustainable and efficient mode transportation for.

Key Features of the Service

  • Routes and Terminals: The electric buses will operate from three major ISBTs in Delhi: Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan. Initially, these buses will serve areas in Greater Noida and Jewar, catering to the March 2025, DTC and NIA signed an MoU to operate these demand for public transport in these regions.
  • Memorandum of Understanding (MoU): In March 2025, DTC and NIA signed an MoU to operate these bus services, formalizing the collaboration between the two entities The fleet will consist of air-conditioned, low-floor electric buses equipped with modern amenities, including GPS tracking, CCTV cameras, panic buttons, and broad aisle spaces to accommodate luggage. These features aim to ensure.
  • Commuters passenger safety and comfort during transit While the exact fare amounts are yet to be finalized, discussions are ongoing in consultation with the Yamuna Expressway Industrial Development Authority (Yeida), which manages the Jewar area. The authorities aim to establish a cost-effective fare structure for commuters The bus services will initially be deployed on a pilot basis. Depending demand.

Additional Considerations

  • Infrastructure Development: A four-kilometer stretch of road that will be part of the bus route is not fully developed yet. DTC has reached out to Yeida to ascertain the usability and development timeline of this segment to ensure seamless operations. and passenger feedback, routes may be adjusted, and the number of buses increased to better serve commuters this, the bus services will begin as scheduled.
  • Airport Operational Timeline: Although the NIA was expected to commence operations by mid-May 2025, it is likely to miss this deadline due to ongoing construction work. Despite this, the bus services will begin as scheduled, providing connectivity to the surrounding areas in the interim providing connectivity to the surrounding areas in the interi This initiative reflects DTC’s commitment to.
  • Enhancing public transportation infrastructure and promoting eco-friendly travel options in the National Capital Region. By introducing electric buses on this route, the corporation aims to offer a reliable and sustainable alternative for commuters traveling between Delhi and the upcoming Noida International The Delhi Transport Corporation (DTC) is set to commence electric bus services.
  • connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to provide eco-friendly and convenient transportation options for commuters traveling between Delhi and the new airport NIA was expected to commence.
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