RBI goes for status quo
To subdue unabatedly high inflation rate, the Reserve Bank of India (RBI) kept the key lending rates unchanged.
image for illustrative purpose
Mumbai: To subdue unabatedly high inflation rate, the Reserve Bank of India (RBI) kept the key lending rates unchanged.
Accordingly, the Monetary Policy Committee of the central bank maintained the repo rate - or short-term lending rate for commercial banks, at 4 per cent.
The MPC voted to maintain accommodative stance, thus opening up possibilities for more future rate cuts.
Status quo
Repo rate: 4%
Reverse repo rate :3.35%
Marginal Standing Facility Rate : 4.25%
Bank Rate : 4.25%
GDP take
FY21 GDP projection at -7.5%
Q3FY21 GDP projection at 0.1%
Q4FY21 GDP projection at 0.7%
Inflation
CPI inflation for Q3 seen at 6.8%, 5.8% in Q3, Q4
