RBI retains pursuits charges unchanged at Four per cent


Mumbai, April 7

Reserve Bank of India on Wednesday expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat to growth due to the resurgence of coronavirus cases.

The central bank kept the benchmark repurchase rate unchanged at 4 per cent and maintained accommodative policy stance to support growth.

RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) kept its estimate for economic growth unchanged at 10.5 per cent for the current fiscal.

MPC saw inflation edging up to 5.2 per cent in the first half of the new fiscal from 5 per cent in the January-March period and moderate to 4.4 per cent in Q3 of FY22. PTI

Highlights

*RBI maintains status quo fifth time in a row on policy rate; keeps repo rate unchanged at 4%.

*Central bank to maintain accommodative monetary policy stance to support growth, keep inflation at targeted level: RBI Guv.

*Recent surge in COVID-19 infections has created uncertainty over economic growth recovery, says RBI Governor.

*Focus must be on containing spread of virus and economic recovery, says RBI Guv.

*RBI retains economic growth for 2021-22 fiscal at 10.5 per cent in 2021-22 fiscal’s first monetary policy.

*Central Bank to ensure ample liquidity in system so that productive sector gets adequate credit: RBI Guv. PTI



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