Monetary Policy Statement, April 2022

RBI Monetary Policy : Governor's Statement Excerpts "Monetary Policy Committee (MPC) met on 6th, 7th and 8th April 2022 and, based on an assessment of the macroeconomic situation and the outlook, voted unanimously to keep the policy repo rate unchanged at 4 per cent. The MPC also decided unanimously to remain accommodative while focussing on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth. The marginal standing facility (MSF) rate and the Bank rate remain unchanged at 4.25 per cent. Further, it has been decided by the Reserve Bank to restore the width of the Liquidity Adjustment Facility (LAF) corridor to 50 basis points, the position that prevailed before the pandemic. The floor of the corridor will now be provided by the newly instituted standing deposit facility (SDF), which will be placed 25 basis points below the repo rate, i.e., at 3.75 per cent. I shall explain the details in this regard later in my statement." RBI Newsletter Departmental of Communication (DoC) during March 10-12, 2022, held its 3 rd annual conference for the nodal officers from 23 central office departments, in Jodhpur, Rajasthan. The theme for this year’s conference was ‘Central Bank Communication and Policy Effectiveness’. Shri Yogesh Dayal, Chief General Manager, DoC welcomed the participants and highlighted the objective of the DoC Conference, which was to interact with the nodal officers of central office departments on a common platform to deliberate on the emerging issues relating to communication from a central banking perspective. While delivering the inaugural address on ‘Central Bank Communication in a Digital World’, Dr. Deepak Kumar, Executive Director stressed upon the importance of a tailored approach for relaying RBI’s messages to the target audience. Shri M. Rajeshwar Rao, Deputy Governor delivered the keynote address on ‘The Many Facets of Central Bank Communication’ and explained how central banks communication is directed not only to the financial markets but also to the public. In the event spanning over two-and-a-half-day, the deliberations focused on various communication strategies deployed by the Reserve Bank for effective dissemination of policy information. The conference was marked by panel discussions on themes - Communication in Interesting Times, Central Bank Communication - Strategies & Challenges, Central Bank Outreach & Public Awareness, and Communication - The Social Media Way, moderated by Executive Directors, Dr. Mridul Saggar, Shri Jose J. Kattoor, Dr. Deepak Kumar and Shri A.O. Basheer, Chief Executive Officer, ReBIT, respectively. The panel discussions saw active participation from panellists, Shri Vivek Aggarwal, RD, New Delhi, Shri P. Vasudevan, CGM, DPSS, Shri Aviral Jain, CGM-in-C, Secretary's Department, Shri Manoranjan Mishra, CGM, DoR, Ms. Dimple Bhandia, CGM, FMRD, Shri Rohit P. Das, RD, Jaipur, Shri Thomas Mathew, RD, Thiruvananthapuram, Smt. Sonali Sen Gupta, CGM-in-C, FIDD, Shri Suman Ray, CGM-in-C, DCM, besides Shri Amitabh Khandelwal, GM, DPSS, Smt. Smita Sharma, Director, ID, Shri S. T. Punnoose, DGM, FIDD and Shri Vikas Agrawal, DGM, HRMD. *As reported in RBI Newsletter of March 31, 2022 shared by J Santhanakrishnan


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