RBI Policy Statement Evokes Mixed Reactions On Twitter As Central Bank Keeps Repo Rate Unchanged

The RBI's Monetary Policy Committee (MPC) led by Governor Shaktikanta Das decided to keep policy repo rate unchanged at 5.15 per cent whereas analysts were expecting another 25 basis points cut.

RBI Governor decided to keep policy repo rate unchanged at 5.15 per cent. (File Photo/ Getty)

As the Reserve Bank of India (RBI) on Thursday released its fifth bi-monthly monetary policy statement for 2019-20, Tweeple offered mixed responses to the development. The RBI's Monetary Policy Committee (MPC) led by Governor Shaktikanta Das decided to keep policy repo rate unchanged at 5.15 per cent whereas analysts were expecting another 25 basis points cut. Retweeting a news report that RBI revises retail inflation projection upwards to 5.1-4.7 per cent for second half of this fiscal, one user said: "And this is why things are very very worrying." One user commented: "The RBI policy has become meaningless as banks are not reducing rates the way @DasShaktikanta is. The effective rate difference between banks and RBI is around 3 per cent. Banks need money to cover up NPAs created under the Modi government. Nation is suffering." Another user had a funny take: "Shakti says 'I Kant cut now. I am no one's Das'." One post read: "The ex-FM (P. Chidambaram) had too many clues about the economy. Therefore, he is walking free! While the NDA is trying to clean and rebuild Bharat from a scratch." One user posted a meme of a sinking boat with four youth and remarked: "RBI worried about fire..." Another tried to rhyme the developments: "MPC unanimous about 'pause', 'Onion effect' might be the cause!"