RBI keeps repo rate unchanged at 6 percent, stance stays at 'neutral'
Then, at a press conference to discuss the first bi-monthly monetary policystatement (2018-19 ) post the Monetary Policy Committee meeting, RBI Deputy Governor B.P. Kanungo acknowledged that bitcoins and its brethren were "getting worldwide attention for quite some time for their speculative value".
This is the fourth policy review in sequence in which the MPC has kept the Repo Rate unchanged.
RBI also kept reverse repo rate unchanged at 5.75 per cent. GDP in the first half of the FY18 was lower; investment demand accelerated in the second half of the FY18.
The BSE Sensex rose almost 100 points in opening trade today ahead of Reserve Bank of India's monetary policy review that begins today.
The two-day meeting of the Monetary Policy Committee (MPC) headed by Governor Urjit Patel of the Reserve Bank of India will end today.
However, RBI reiterated its neutral stance on its policy outlook due to several uncertainties surrounding the baseline inflation path including the revised minimum support price (MSP) announced in the budget and the possible fiscal slippages at the level of both centre and states.
Regulated entities already providing services to any individual or business dealing in digital currencies are being given three months to exit the relationship, RBI Deputy Governor B.P. Kanungo told reporters here.
The MPC said it saw inflation in the second half of this fiscal year at 4.4, but that was without taking into account any increase from higher housing allowances to government employees. The RBI remained firm on its neutral stance, which has been changed from the earlier stance of "accommodative". CPI which stood at 5.21% at 17-month high, recorded a growth rate of 5.07% in January 2018 and further to 4.44% in February 2018. The apex bank could have directed the lenders to keep the MCLR below 10% or put a cap on the same for home loans. There is pressure on the central bank to cut interest rates to boost retail inflation and boost growth.
The Reserve Bank of India was more open to blockchain, the technology that underpins virtual currencies, which it said has the potential to improve the efficiency and inclusiveness of the financial system.
The move is likely to have a far-reaching impact on the payment ecosystem in India as surveys show that nearly 37 per cent respondents who made digital payments used these apps. "However, whether this is a transient bout of "dovishness" or whether it will endure (especially if one of risks were to surface) remains the key question", he said.
Abby Lee Miller reportedly released from prison
The video above shows the picture of Miller while still in prison showing off her weight loss, which was posted a few months ago. Fox quotes a source saying that "the sky's the limit" for Miller when it comes to her future prospects after prison life.
Smith, Warner banned for 12 months; will miss IPL
Former England captain Michael Vaughan also expressed his opinion, " Steve Smith I think is a good guy who made a huge mistake ... Lehmann said: "I'm not going to resign as was said [by CA chief executive James Sutherland]".
Possible Shots Fired Incident at YouTube Headquarters
The San Bruno Police Department responded to the incident and took to social media to ask people to stay away from the area. The City Manager says they've received multiple 911 calls from YouTube, however, they did not disclose the reasons why.
First person sentenced in Russia probe gets 30 days
His wedding to art critic Eva Khan featured in Russian Tatler magazine previous year . "He is literally in limbo", Schwartz said. He said Mueller overstepped his bounds by charging him for conduct that occurred years before the 2016 presidential election.
Ichiro robs Jose Ramirez of a home run
The Seattle Mariners have placed catcher Mike Zunino on the 10-day disabled list with a left oblique strain. Cruz (ankle) is out of the lineup Sunday against the Indians , Ryan Divish of The Seattle Times reports.