Monetary Policy Review: RBI decides to keep repo rate unchanged
RBI has decided not to make any change in key interest rates once again. Reserve Bank of India Governor Shaktikanta Das informed after the monetary policy review meeting that the repo rate has been kept at 4% and the reverse repo rate has been kept at 3.35%. The central bank has kept the GDP growth forecast for 2021-22 unchanged at 9.5%. The bi-monthly three-day meeting of the Monetary Policy Committee (MPC) of the RBI began on October 6 and continued till October 8. RBI has kept policy rates unchanged in the last eight reviews since the repo rate reduction by 0.4% on May 22, 2020 amid the first wave of the COVID-19 pandemic.