Mosina bi 30/06/2021

 

SBI Bank Alert! SBI to charge extra for ATM withdrawals from July 1

The Reserve Bank of India is “in a bind”, given the present situation of inflation heating to above the mandated band and weakening growth, a British brokerage said on Tuesday.

The central bank may hike the repo rate only by the first quarter of next fiscal (April-June 2022) and continue to maintain the accommodative stance in the interim, Barclays' chief India economist Rahul Bajoria said in a note.It can be noted that after responding with deep rate cuts initially, the RBI has limited itself to using non-conventional tools to help the growth process in the economy. However, with the surge in inflation lately - the headline number came at 6.3 per cent for May - there have been questions over the tolerance of the central bank.


“Weakening growth prospects and surging inflation place the RBI in a bind. Given this backdrop, we expect the central bank to maintain its accommodative stance, and to continue to rely on the government's supply-side measures to reign in price pressures, while at the same time confirming its commitment to anchoring medium-term inflation expectations,” Bajoria said
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The country's largest lender SBI will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts      

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