Goodwill Investor Education Initiative : GoodWill Eagle’s Eyes!
RBI MPC Meeting: RBI begins policy announcements.
All you need to know
- RTGS system for real-time fund transfer to become 24X7 from December 2020
- All new housing loans risk will be linked only to loan to value
- Ways & Means Advance (WMA) limit for the Centre kept at Rs 1.25 lakh crore
- RBI announces on-tap TLTRO for Rs 1 trillion at 4% till March 2021
- RBI to conduct OMO worth Rs 20,000 crore next week
- RBI sees GDP for FY21 contracting 9.5% with chances of strong rebound
- Inflation likely to ease to projected target by Q4 of FY’21
- Reverse repo rate remains unchanged at 3.35%
- RBI Keeps Repo Rate unchanged at 4%
RBI rationalizes risk weightage on home loans
All new housing loans risk will be linked only to loan to value. Ram ram ram
Ways & Means Advance (WMA) limit for the Centre kept at Rs 1.25 lakh crore. Current inflation hump transient; agriculture outlook looks bright, oil prices to remain rangebound.
RBI announces on-tap TLTRO for Rs 1 trillion at 4% till March 2021
RBI to conduct OMO worth Rs 20,000 crore next week.
On tap TLTRO with the tenor of 3 years up to Rs 1 lakh crore
RBI will conduct special and outright bond purchases.
Focus must shift from containment to reviving the economy.Modest recovery in 1st half of year could further strengthen in 2nd half; economic activity to gain traction in Q3RBI sees GDP for FY21 contracting 9.5% with chances of strong rebound GDP growth may break out of contraction and enter positive zone by Q4 of current fiscal: Inflation likely to ease to projected target by Q4 of FY’21Financial conditions remain benign. Deep contractions of Q1 FY21 behind India is likely to shrug off impact of the virus
Contraction in economic growth of Q1 behind us; silver linings are visible Silver linings visible in easing caseloads across country. Indian economy entering into decisive phase in fight against coronavirus. The latest MPC decision came as retail inflation continued to remain at the upper end of RBI’s tolerance range. It has stayed stubbornly above 6 per cent, at 6.69 per cent in August and 6.73 per cent in July. RBI maintains status quo on policy rate, maintains accommodative stance RBI Keeps Repo Rate unchanged at 4%.
Sensex, Nifty rise ahead of RBI’s monetary policy decision
Sensex rises 313.44 points to 40494 . Nifty is up by 83.90 points higher to 11,919
With no change in the repo rate, any change in the Marginal Cost Based Lending Rate (MCLR) will now depend on bank-specific internal factors. Remember, a bank’s MCLR is determined both via internal factors such as cost of funds and external factors such as repo rate etc.
Usually, home loans linked to MCLR comes with a reset period of either one-year or six months. Thus, even if your bank reduces its MCLR, the reduction will result in lower EMIs only when the reset date of your home loan arrives. On the reset date, your future EMIs will be calculated based on the interest rate prevailing on that date (i.e., reset date).
A likely pause in reduction in FD interest rates
Just as banks have been cutting interest rates on loan, they have been announcing reductions in their FD rates as well. So, no change in key policy rates may prompt banks to go easy on cutting fixed deposit (FD) rates.
In a relief to the small savings schemes investor, the governemnt has decided to keep the interest rate unchanged for the third quarter of FY 2020-21. No change in the interest rate of post office deposit schemes would be a relief for investors who are already reeling from the interest rate cuts on the fixed deposits.
Since the rates remain unchanged vis a vis an expected rise, the markets perceived this as a positive move and will pave way for more liquidity as the RBI proposes to buy bonds and be active in OMO.
For all your investment needs feel free to reach Goodwill.
Give us Missed Call us on 90037 90027 . For Support : 044-40329999