RBI RBI keeps key rates unchanged
Mumbai/UNI: Following a spurt in Coronavirus cases and the imposition of fresh restrictions to check the virus spread, the Reserve Bank of India (RBI) on Wednesday decided to maintain the status-quo on the benchmark repo rate — the rate at which the central bank lends short-term funds to banks — at four per cent.
Announcing the bi-monthly monetary policy review today, RBI maintained the status-quo where all six members of the monetary policy committee unanimously gave a decision, while also keeping the accommodative monetary stance unchanged to nurture a fragile economic recovery.
The policy announcement, the first for the fiscal, will come days after the government maintained the RBI's target to ensure inflation falls within two-six per cent for five more years.
The Policy repo rate or the short-term lending rate is currently at four per cent, while the reverse repo rate stands at 3.35%.
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