Indian economy may break out of contraction and turn positive during January-March, said RBI governor Shaktikanta Das.
The court said the Centre's affidavit on waiving "interest on interest" (compound interest) on loans up to Rs 2 crore needs to be submitted as it was not satisfactory.
Credit policy usually gets announced on 1 Oct. But as 3 external members of MPC could not be replaced after their terms expired, no meeting of the rate-setting panel could take place before 1 October.
After a surprise cancellation of the credit policy meet scheduled for 1 Oct, Govt appoints Ashima Goyal, Shashanka Bhide and Jayanth Varma to RBI's rate-setting panel.
