BusinessWorld | 07/08/2021 02:12 PM | Click to read full article
Amid the economic crisis, Reserve Bank of India Governor Shaktikanta Das on Friday during the Monetary Policy Committee (MPC) review meeting said that the central bank's MPC has left the repo rate unchanged at 4 per cent and reverse repo rate at 3.35 per cent.
In a press statement, RBI said, "Based on an assessment of the evolving domestic and global macroeconomic and financial conditions and the outlook, the MPC voted unanimously to keep the policy repo rate unchanged at 4 per cent. The MPC also decided on a 5 to 1 majority to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target, going forward. The marginal standing facility (MSF) rate and the bank rate remain unchanged at 4.25 per cent. The reverse repo rate also remains unchanged at 3.35 per cent.”