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"RBI Keeps Key Lending Rate Unchanged At 4%" Says RBI Governor
The RBI Governor said the Monetary Policy Committee expects inflation to remain at elevated levels
"RBI Keeps Key Lending Rate Unchanged At 4% " Says RBI Governor
New Delhi: On Thursday, the Reserve Bank Of India left the repo rate unchanged at the existing 4 percent on Thursday, following a three-day meeting of its six-member Monetary Policy Committee.
The Monetary Policy Committee decided unanimously to leave the repo rate at the existing level and maintains its "accommodative" stance on policy, said Governor Shaktikanta Das in the virtual address to media.
Latest Updates on the RBI's monetary policy decision:
1-On Thursday the Reserve Bank Of India left the repo rate unchanged at 4 percent. Also, the central bank maintained the reverse repo rate, the interest rate at which the RBI borrows fund from the commercial bank unchanged at 3.35 percent
2- RBI Governor said the Monetary Policy Committe expects inflation to remain at the elevated levels in the July-September period ease in the second half of the current financial year on account of "favorable base effect".
3- Traditionally RBI has focused on keeping consumer inflation or the rate of the increase in the retail prices of the basket of commodities under control
4-Last month in a report released the RBI said that the coronavirus pandemic is likely to push up the gross non-performing assets or bad loans in the country's banking system to at least 12.5 percent by March 2021, from 8.5 percent in March 2020.
5- The Reserve Bank Of India's recent policies have focused on the financial stability and the need to support the growth under Governor Shaktikanta Das