Repo Rate RBI maintains repo rate for fourth consecutive time
Mumbai/UNI: Continuing the accommodative stance, the Reserve Bank of India (RBI) on Friday kept the key rates unchanged for the fourth time in a row.
The Repo rates stand unaltered at four per cent and reverse repo at 3.35% respectively.
Announcing the bi-monthly policy, RBI Governor Shaktikanta Das indicated more rate cuts in 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% 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%). He further said that outlook on growth had turned positive and signs of recovery had also strengthened further.
The GDP growth was projected at 10.5% for the next fiscal, Das said that the Budget had provided impetus to health and infra sectors.
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