https://www.taxtmi.com/news?id=25675 The policy raises the short-term lending rate by a further 50 basis points, with the Monetary Policy Committee deciding to withdraw the accommodative stance to check inflation while retaining retail inflation and GDP growth projections; the statement notes large portfolio outflows and rupee depreciation attributed mainly to a stronger US dollar, reliance on foreign exchange reserves and a sound financial sector as buffers, and activation of a mechanism for NRIs to use the Bharat Bill Payment System for family payments. en-us Fri, 05 Aug 2022 14:24:14 +0530 Fri, 05 Aug 2022 14:24:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=25675 The policy raises the short-term lending rate by a further 50 basis points, with the Monetary Policy Committee deciding to withdraw the accommodative stance to check inflation while retaining retail inflation and GDP growth projections; the statement notes large portfolio outflows and rupee depreciation attributed mainly to a stronger US dollar, reliance on foreign exchange reserves and a sound financial sector as buffers, and activation of a mechanism for NRIs to use the Bharat Bill Payment System for family payments. News - Fri, 05 Aug 2022 14:24:14 +0530 https://www.taxtmi.com/news?id=25675