Three-membered Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) maintained an accommodative stance and kept the repo rate unchanged at 4 per cent, in order to revive & sustain growth and reduce the impact of Covid-19 pandemic.
RBI Monetary Policy Committee Announcements
Monetary Policy Committee has also ensured that inflation remains within the target.
Reverse repo rate was also kept as earlier at 3.35 per cent.
Marginal Standing Facility (MSF) rate and bank rate also remain unchanged at 4.25 per cent.
MPC has retained the GDP forecast for FY 2021-22 at 9.5 per cent. GDP projection for Q2 FY22 is estimated at 7.9 per cent, Q3 at 6.8 percent while Q4 at 6.1 per cent. Real GDP growth for Q1 of FY 2022-23 is forecasted as 17.2 per cent.
