RBI keeps repo & reverse repo rate unchanged

The Reserve Bank of India kept key policy rates unchanged as the economy faces a restored danger to development from the Covid-19 pandemic, with new cases hitting a record.

Repo rate and the reverse repo rate stay unchanged at 4% and 3.35 percent. “The position of the monetary policy will stay accommodative till the possibilities of economic recuperation are not sustained,” said RBI lead representative Shaktikanta Das in Mumbai following a three-day meeting of the regulator’s monetary policy committee.

The national bank likewise held its development viewpoint for the financial year began April 1 at 10.5%, unchanged from its February standpoint.

“The recent surge in infections has, be that as it may, bestowed more great uncertainty to the viewpoint,” Das said. “Confined and provincial lockdowns could dampen the new improvement in demand conditions and defer the return of normal.”

A status quo on rates and position was normal by each of the 10 financial analysts and market experts that Business Standard surveyed recently.