RBI satisfied with pace of monetary transmission

Reserve Bank governor Shaktikanta Das expressed satisfaction with bankers for passing its rate cuts to borrowers, saying the monetary transmission has been full and reasonably swift.

He further said transmission, which was bothering the central bank for a long time, is expected to improve with the introduction of linking loan pricing to external benchmark system, which banks have adopted now.

Shaktikanta said the weighted average lending rate has gone down by 44 bps on the fresh rupee loans.

He also said there are indications of the capex cycle, a sluggishness in which is hurting economic growth, turning up.