The Reserve Bank of India’s Monetary Policy Committee (MPC) will reassess growth and inflation dynamics at its meeting next month amid rising crude oil prices owing to the ongoing West Asia crisis, Governor Sanjay Malhotra said on Friday.
In an interview to CNBC-TV18, the Governor said the rising crude oil prices will have an impact but it will depend on how much is passed through.
Nearly 50% of the Foreign Currency Non-Resident (Bank), or FCNR(B) deposits, mobilised under the forex swap facility is for 5-year tenor, he added.
The inflows under the FCNR(B) deposits totalled $127.22 billion in the recently concluded RBI swap facility.
