RBI RBI keeps lending rates unchanged
Mumbai: Reserve Bank of India Governor Shaktikanta Das on Friday said the repo rate and reverse repo rate will remain unchanged.
While Reverse Repo was at 3.35 per cent to continue with its accommodative stance as long as necessary - “at least through the current financial year and into the next year to revive growth on a sustainable basis and to mitigate the risks of Covid-19 while ensuring that inflation remains within the target,” RBI Governor Shaktikanta Das said.
Reverse repo rate stands unchanged at 3.35 per cent.
“The deep contraction of quarter one is behind us, the silver lining in visible,” Das said in his address.
He announced the decisions of the Monetary Policy Committee.
Bi-monthly Monetary Policy address by RBI Governor, Shri Shaktikanta Das https://t.co/n2aOm0P71S
— ReserveBankOfIndia (@RBI) October 9, 2020
He said the mood of the country has changed from fear to hope.
The announcement was made by the governor at a time when the nation is still battling the COVID-19 pandemic.
Late on Monday, the government named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the RBI's Monetary Policy Committee(MPC).
The new members have been appointed for a four-year term.
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