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HomeEconomyRBI to maintain repo rate at 4%, reverse repo rate at 3.35%

RBI to maintain repo rate at 4%, reverse repo rate at 3.35%

The RBI has otherwise cut the repo rate by a total of 115 basis points (bps) since March 2020 to soften the blow from the coronavirus pandemic

The Reserve Bank of India (RBI) kept its key policy rates unchanged on 4 June, for the sixth consecutive and at record lows, as it continued with its “accommodative stance to revive and sustain on a sustainable basis” amid the second wave of the coronavirus pandemic.

“The Monetary Policy Committee (MPC) voted to maintain status-quo ie repo rate remains unchanged at 4%. MCC decided to continue with the accommodative stance as long as necessary to revive and sustain on a durable basis and to mitigate the impact of Covid on the economy,” RBI governor Shaktikanta Das said in Mumbai after MPC’s three-day meeting.

“The MPC was of the view that at this juncture policy support from all sides is required to gain the momentum of that was evident in the second half of 2021 and to nurture the recovery after it has taken root,” the RBI governor said.

RBI held the reverse repo rate, the borrowing rate, unchanged at 3.35%, Das said. The central bank lowered its estimate for economic to 9.5% for the current fiscal from an earlier projection of 10.5% due to the impact of the second wave of the coronavirus pandemic. The Marginal Standing Facility (MSF) rate and bank rates were also kept unchanged at 4.25%, the RBI governor said.

The RBI has cut the repo rate, its key lending rate, by a total of 115 basis points (bps) since March 2020 to soften the blow from the coronavirus pandemic. MPC, which is the RBI’s rate-setting panel, began its three-day deliberations on the monetary policy on 1 June.

The central bank last revised its policy rate on 22 May 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.

The RBI’s annual report, released last month, said that “the conduct of monetary policy in 2021-22 would be guided by evolving macroeconomic conditions, with a bias to remain supportive of till it gains traction on a durable basis while ensuring that inflation remains within the target”.

The report added that the central bank would ensure that system-level liquidity remains comfortable during 2021-22 is alignment with the stance of monetary policy, and monetary transmission continues unimpeded while maintaining financial stability.

The Indian economy rose by 1.6% in the January-March quarter from the previous year but witnessed a contraction of 7.3% for the entire fiscal year, its worst in more than 40 years.

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“You don't like non-veg food, that is your lookout. How can you decide what I eat outside? Tomorrow you will decide what I should eat outside the house?” the court of Justice Biren Vaishnav said. https://bit.ly/3rVLL45

wo piss off nahi huye, to secular raita unko chidane ke liye movie kaise dekhne jayega aur apne aap ko sahanubhooti dega, at this point I see as clever way to get footfall to cinema, kyuki nahi to koi movie na dekhne jata

What happened to Annapurna Mandir@entropied

Why were khatnas so pissed with movie Sooryavanshi?
From what I saw, it's a regular secular K2 kok skng Bollywood movie.

Which of these is MORE likely:

A “once in a 100 year” event happening at least once in the next 100 years,

[OR]

A “once in a 1000 year” event happening at least once in the next 1000 years?

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