Auto Refresh
Advertisement

News, Business

RBI keeps interest rate unchanged for 4th time in a row

Published Feb 5, 2021, 10:35 am IST | Updated Feb 5, 2021, 10:35 am IST

Reserve Bank of India (RBI) decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance

Shaktikanta Das
Shaktikanta Das

Mumbai: Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.

The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's Monetary Policy Committee (MPC).

Advertisement

Shaktikanta DasShaktikanta Das

Consequently, the reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with RBI.

He said MPC voted for keeping interest rate unchanged and decided to continue with its accommodative stance to support growth.

Advertisement

RBIRBIThe central bank had slashed the repo rate by 115 basis points since late March 2020 to support growth.

This is the fourth time in a row that MPC has decided to keep the policy rate unchanged. RBI had last revised its policy rate on May 22 in an off-policy cycle to perk up demand by cutting interest rate to a historic low.

Advertisement

ROZANA SPOKESMAN

Advertisement
Advertisement

This policeman got angry with social media star Deep Matharu!

28 Sep 2021 11:21 AM
CM Charanjit Singh Channi Statement on Electricity bill Impact on Punjab Poor People 's

CM Charanjit Singh Channi Statement on Electricity bill Impact on Punjab Poor People 's

Balbir Rajewal's Explosive Speech from KMP - India Closed - Farm Law

Balbir Rajewal's Explosive Speech from KMP - India Closed - Farm Law

CM Charanjit Channi First Cabinet Meeting - Taken Big Decision on Farmer Protest & Bill's

CM Charanjit Channi First Cabinet Meeting - Taken Big Decision on Farmer Protest & Bill's

Advertisement