The Reserve Bank of India (RBI) has taken a key decision in the wake of the Covid second wave in the country. There was no change in key interest rates in the monetary policy review on Friday.
RBI Governor Shaktikanta Das said the repo rate would be maintained at 4 percent and the reverse repo rate at 3.35 per cent. He said the decision was taken unanimously at the Monetary Policy Committee (MPC) meeting.
The marginal standing facility rate (MSF) and bank rates will also remain at 4.25 per cent. This is the sixth time in a row that the RBI has not changed the repo rate. Meanwhile, the RBI has cut its GDP growth forecast for the 2022 financial year to 9.5 per cent. In the past, the RBI had projected 10.5 per cent.