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1-min read

RBI to Discuss Issuance of Sovereign Bonds With Govt: Shaktikanta Das

Of the 50 basis points cut in interest rate announced by the RBI prior to the June monetary policy, about 21 basis points had been transmitted, Das said

PTI

Updated:July 8, 2019, 6:22 PM IST
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RBI to Discuss Issuance of Sovereign Bonds With Govt: Shaktikanta Das
File photo of RBI governor Shaktikanta Das.
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New Delhi: Reserve Bank Governor Shaktikanta Das Monday said the central bank will discuss issuance of overseas sovereign bonds with the government.

After the customary post-budget meeting with Finance Minister Nirmala Sitharaman, he said the system has sufficient liquidity and the Budget for 2019-20 has made provision for shadow banking (NBFC) sector.

"We are monitoring NBFCs and their operations at regular intervals," he told reporters here. He said Budget provision of Rs 70,000 crore towards bank capitalisation is a very positive development that will help lenders not just comply with the regulatory requirement but also step up banking.

On interest rate transmission, he said it used to take up to six months for an interest rate cut to be transmitted to consumers but things have improved, and now it is taking shorter time, he said.

Of the 50 basis points cut in interest rate announced by the RBI prior to the June monetary policy, about 21 basis points had been transmitted, he said, hoping better transmission of interest rate cuts in coming weeks and months.

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