The Reserve Bank of India (RBI) has decided not to make any changes in the repo rate in the meeting of the Monetary Policy Committee (MPC).
New Delhi. The Reserve Bank of India (RBI) has decided not to make any changes in the repo rate in the meeting of the Monetary Policy Committee (MPC). RBI Governor Shaktikanta Das said that the repo rate will remain at 4% and the reverse repo rate at 3.35%. Das said that the threat of corona is not over yet. The economy is progressing as per the expectations of the MPC. The economy is improving due to vaccination.
After the three-day meeting on Friday, RBI Governor Shaktikanta Das said, ‘RBI has not made any change in the repo rate and reverse repo rate. Repo rate remains at 4% and reverse repo rate at 3.35%.
The three-day meeting of the 6-member Monetary Policy Committee (MPC) began on 6 October. RBI Governor will address the media at 12 o’clock today. RBI’s focus is on continuously reducing inflation and recovery of economic growth.
The rapid improvement in the economy, the
RBI Governor said that the Reserve Bank will continuously try that the inflation rate remains within the target. He said that all the 6 members of the MPC have agreed not to change the policy rate. Das said that there are signs of rapid improvement in the economy. But core inflation remains a challenge. Retail inflation in July-September was lower than expected.
GDP growth rate
maintained at 9.5%, Shaktikanta Das said that this time India’s position is much better than the last meeting of MPC. Growth is consolidating and inflation is in a better-than-expected position. The Monetary Policy Committee has retained the GDP growth rate at 9.5% for the fiscal year 2021.