Question: In its bimonthly monetary policy statement released on 4th June , what is the growth projection of India’s GDP as projected by RBI?
a) 10.9%
b)11.9%
c)9.5%
d)10.5%
Ans: c
Facts
- In its bimonthly report RBI has kept the rates unchanged.
- Repo rate: 4%, Reverse repo rate: 3.35%, MSF rate:4.25%, Bank Rate: 4.25%
- Monetary policy opened a Rs 15,000-crore liquidity window for contact-intensive sectors such as hotels and tourism.
- On the liquidity front, it announced securities purchases of Rs 40,000 crore in June quarter while Rs 1.2 lakh crore in September under G-SAP 1.0 to revive the growth.
What is G-SAP 1.0
- It is Government Security Acquisition Programme 1.0 announced by RBI for orderly evolution of yield curve in Financial Year 2022. Under it, RBI will purchase government bonds of worth Rs 1 trillion.
By kameshwar shukla