MPC will reassess growth-inflation dynamics at next meeting: RBI Governor
Reserve Bank's Monetary Policy Committee (MPC) will reassess growth and inflation dynamics at its meeting next month amid rising prices of crude oil due to the ongoing West Asia crisis, Governor Sanjay Malhotra said on Friday.
In an interview to CNBC-TV18, the governor also said nearly 50 per cent of the Foreign Currency Non-Resident (Bank), or FCNR(B) deposits, mobilised under the forex swap facility is for 5-year tenor.
The inflows under the FCNR (B) deposits totalled USD 127.22 billion in the recently concluded RBI swap facility.
On inflation, Malhotra said the rising crude oil prices will have an impact but it will depend on how much is passed through, he said.
"Crude has gone up.
July was for the Indian basket an average of 82 billion dollars.
August it has gone up to 90 billion dollars and so that will certainly have some impact, but it will depend again on the pass-through," Malhotra said in the interview.
According to him, the government has to a great degree absorbed and .
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