29.1 C
Delhi
Friday, July 12, 2024

RBI maintains status quo

EconomyRBI maintains status quo

RBI Governor Shaktikanta Das announced that RBI voted to keep interest rates unchanged and continue with the accommodative stance to support growth.

Mumbai: Continuing the accommodative stance, the Reserve Bank of India on Friday kept the key rates unchanged for the fourth time in a row.

The Repo rates stand unaltered at 4 percent and reverse repo at 3.35 percent respectively.

Announcing the bi-monthly policy, RBI Governor Shaktikanta Das indicated more rate cuts in the future in order to support the economy hit by the Coronavirus (Covid-19) pandemic.

Meanwhile, the reverse repo rate will also continue to earn 3.35 percent for banks for their deposits kept with the RBI.

The MPC of the RBI voted to keep interest rates unchanged and continue with the accommodative stance to support growth.

The RBI Governor said that inflation had returned to a tolerance band (of 4 percent). He further said that the outlook on growth had turned positive and signs of recovery had also strengthened further.

The GDP growth was projected at 10.5 percent for the next fiscal, Das said that the Budget had provided an impetus to health and infra sectors.

Check out our other content

Check out other tags:

Most Popular Articles