The RBI has pegged the inflation rate at 3.0-3.1 per cent for April-September and 3.4-3.7 percent for the October-March period. The Monetary policy committee headed by RBI Governor Shaktikanta Das today said a sharp slowdown in investment activity along with a continuing moderation in private consumption growth was matter of concern.

He was addressing press conference post announcement of its second bi-monthly monetary policy today.

AIR correspondent reports that the RBI governor that the apex bank is closely monitoring the Non-banking Financial Sector (NBFC), with a terse message will not hesitate to take any measure that is required to maintain the financial stability of the system including, short-term, medium-term and long term.

The RBI will ensure that there is adequate liquidity available in the system for all productive purposes. He added that they are watching the performance of housing finance companies and the internal working group report on liquidity will be put out in public domain soon. With a view to boost digital transactions, Mr. Das added that RBI has decided to do away with charges levied on RTGS and NEFT transactions and banks will be required to pass this benefit to their customers. A committee will review ATM charges.