The Reserve Bank announced the results of the Monetary Policy Committee (MPC) on Friday, starting from April 6.
This time too, the eyes of the central bank remained on the strength of the economy. Governor Shaktikanta Das informed about the decisions of the MPC meeting and issues like inflation were also discussed prominently in the meeting.
The Reserve Bank has announced the results of the Monetary Policy Committee on Friday. RBI Governor Shaktikanta Das said that no change has been made in the repo rate, giving priority to economic reforms.
Das said, for the time being, we have kept the repo rate stable at 4 percent. This will help in increasing the flow of credit and bring the economy out of the pressure of the pandemic. This is the 11th time that the RBI has not made any change in the repo rate.
The governor says that the economy has not yet been brought out of the epidemic completely. In such a situation, maintaining economic stability is our priority.
40 basis points hike in reverse repo rate The
Reserve Bank has increased the reverse repo rate by 40 basis points after reviewing the liquidity in the market. Now the reverse repo rate has reached 3.75 percent. RBI intends that the reverse repo rate should be raised again to the pre-pandemic level.
Reverse repo rate is the rate at which banks get interest on depositing money in the Reserve Bank. Now if banks deposit money in RBI, they will get an interest of 3.75 percent annually.
