RBI keeps repo rate unchanged at 4%

<p>RBI Governor Shaktikanta Das announced on Friday that the Monetary Policy Committee had voted unanimously to keep the repo rate unchanged at 4 per cent. Das made the announcement on the sidelines of the bi-monthly monetary policy review. Experts had expected that stubborn retail inflation, which has remained above the comfort level of the RBI […]</p>

New Update
RBI keeps repo rate unchanged at 4%

RBI Governor Shaktikanta Das announced on Friday that the Monetary Policy Committee had voted unanimously to keep the repo rate unchanged at 4 per cent.

Advertisment
1/38
2/38
3/38
4/38
5/38
6/38
7/38
8/38
9/38
10/38
11/38
12/38
13/38
14/38
15/38
16/38
17/38
18/38
19/38
20/38
21/38
22/38
23/38
24/38
25/38
26/38
27/38
28/38
29/38
30/38
31/38
32/38
33/38
34/38
35/38
36/38
37/38
38/38

Das made the announcement on the sidelines of the bi-monthly monetary policy review.

Experts had expected that stubborn retail inflation, which has remained above the comfort level of the RBI of around 4 per cent, would refrain the central bank from reducing interest rate.

In its October monetary policy statement, the RBI had said the real GDP growth in 2020-21 was expected to be negative at (-) 9.5 per cent, with risks tilted to the downside: (-) 9.8 per cent in Q2:2020-21; (-) 5.6 per cent in Q3; and 0.5 per cent in Q4.

According to the Finance Ministry’s Monthly Economic Review, the year-on-year GDP contraction of 7.5 per cent in Q2 of 2020-21 underlies a quarter-on-quarter surge in GDP growth of 23 per cent. This V-shaped recovery, evident at the half-way stage of 2020-21, reflects the resilience and robustness of the Indian economy.

Latest Stories