New Delhi: Reserve Bank of India keeps repo rate unchanged at 4%, maintains accommodative stance. RBI Governor Shaktikanta Das on Friday announced that RBI has kept reverse repo rate at 3.35%.
The Governor, while elaborating the RBI Monetary Policy said, “Economic activity has broadly evolved along the lines of the Monetary Policy Committee’s expectations in June and the economy is recovering from the setback of the second phase of COVID-19.”
He further said that the projection for real Gross Domestic Product (GDP) growth is retained at 9.5% for 2021-22. CPI inflation is projected at 5.7 % during 2021-22 – this consists of 5.9% in Q2, 5.3% in Q3 and 5.8% in Q4 of 2021-22 with risks broadly balanced. CPI inflation for the first quarter of 2022-23 is projected at 5.1%.