The Reserve Bank of India (RBI) Governor Shaktikanta Das said that the transmission of rate cuts is likely to improve further in the next few days and that momentum is assimilating pace on credit growth.
Earlier this month, the apex bank decided to go for a status quo on the benchmark interest rate and kept it unchanged at 5.5 percent, amid signs of rising inflation and an uncertain global environment.
Das made these comments after the scheduled post-budget meeting of RBI’s central board of directors in Delhi.
Union finance minister Nirmala Sitharaman also addressed the board during the meeting.
The finance minister said that she is willing to incorporate feedback from economists and industry experts while making alterations in the Union Budget proposals for 2020-21.
Sitharaman presented her second Union Budget on February 1.