NE BUSINESS BUREAU
MUMBAI, FEB 10
Reserve Bank of India (RBI) on Thursday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance in the backdrop of elevated level of inflation.
This is the tenth time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo. RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020 in an off-policy cycle to perk up demand by cutting the interest rate to a historic low.
Monetary Policy Statement, 2021-22 Resolution of the Monetary Policy Committee (MPC) February 8-10, 2022 @DasShaktikanta #RBItoday #RBIgovernor #monetaryPolicy https://t.co/jytOffmvfd
— ReserveBankOfIndia (@RBI) February 10, 2022
Governor’s Statement: February 10, 2022 @DasShaktikanta #RBItoday #RBIgovernor #monetaryPolicy https://t.co/dwdOadZgxI
— ReserveBankOfIndia (@RBI) February 10, 2022
This is the first MPC meeting after presentation of Budget 2022-23 in Parliament on February 1.
MPC has decided to keep benchmark repurchase (repo) rate at 4 percent, Das said while announcing the bi-monthly monetary policy review.
Consequently, the reverse repo rate will continue to earn 3.35 percent interest for banks for their deposits kept with RBI.
