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RBI monetary policy: Rates kept unchanged for continued support to economy

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3 years ago

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RBI monetary policy: Rates kept unchanged for continued support to economy

The Reserve Bank of India’s Monetary Policy Committee (MPC) kept key interest rates unchanged for the tenth consecutive meeting on Thursday, maintaining an accommodative stance amid threats surrounding Omicron’s coronavirus variant.

Reserve Bank of India Governor Shaktikanta Das said in a statement after a three-day meeting of the Mumbai Committee that the repo and reverse repo rates remained unchanged at 4% and 3.35%, respectively.

“India is charting a different recovery path than the rest of the world to become the fastest growing economy,” Das said.

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Das said the six-member rate committee, which has been suspended since August 2020, maintained its accommodative policy stance by a 5-1 vote, suggesting the economy needs continued support despite accelerating inflation. While maintaining his accommodative stance, he reiterated the “as long as necessary” phraseology used since October 2019.

“Monetary policy actions will be calibrated and clearly communicated,” Das said, stressing that there would be no surprises.

The central bank has cut repo rates by a total of 115 basis points (bps) since March 2020 to soften the blow from the coronavirus pandemic and draconian containment measures. That rate is now 250 basis points below where it was at the start of the easing cycle in early 2019.

The Reserve Bank of India lowered its inflation outlook for the next fiscal year to 4.5% from 5.3% this year. The central bank expects gross domestic product growth to slow to 7.8% in the next fiscal year, down from the government’s 9.2% estimate for this year.

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“Given the comfort from the inflation and growth outlook, especially the improved inflation outlook, and the uncertainty associated with omicron and global spillovers, the MPC believes that continued policy support is necessary for a durable and broad recovery,” Das said, according to Bloomberg.

Respondents in the Feb. 2-4 Reuters poll were split on the timing of the next rise, with 17 of 32 respondents slightly more than half expecting a 25 basis point rise to 4.25% in April.

Of the remaining 15, 13 were nearly split between June and August. Only one economist said it would happen as early as the beginning of this month, while another said it would happen in October of this year.

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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