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Transmission of rate cuts improving; expected to improve further: RBI Governor Shaktikanta Das

Addressing the media after the customary post-budget meeting between the Finance Minister and the RBI, Governor Shaktikanta Das talked about the improving transmission of the rate cuts they had announced last year, the AGR ruling by the Supreme Court and growth projections.

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Last Updated: Feb 15, 2020, 02.24 PM IST
Transmission of rate cuts to improve further: RBI Guv Shaktikanta Das
Transmission of rate cuts to improve further: RBI Guv Shaktikanta Das
A customary post-budget meeting of Central Board of Directors' Reserve Bank of India (RBI) was held in Delhi on Saturday.

The meeting was attended by Finance Minister Nirmala Sitharaman, RBI Governor Shaktikanta Das, MoS Finance Anurag Thakur, and others.

"We have given a growth projection of six per cent for the next year, in line with the projections from the Finance Ministry," RBI Governor Shaktikanta Das said, post the meeting.

Talking of the rate cuts announced last year, the RBI Governer said transmission of rate cuts is improving steadily.

"The transmission of rate cuts has improved to 69 basis points, and we expect the transmission of rate cuts to improve further," Das said.

Addressing the AGR dues ruling the Supreme Court had passed on Friday, Das said that the ruling will be discussed if necessary.

"It [AGR ruling] will be internally deliberated upon, if at all there are issues arising out of it," Das said.

On February 1, Sitharaman presented her second Union Budget on behalf of the NDA-2 government led by Prime Minister Narendra Modi.

In the longest Union Budget speech in history, Sitharaman talked about tax regime, finance, agriculture, irrigation, water, sanitation, healthcare, education, infrastructure, women and digital connectivity, among others.

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