Mumbai: The Reserve Bank of India (RBI) on Friday kept the repo rate unchanged for the eighth time straight and continued with an accommodative stance.
The repo rate — the central bank’s lending rate — remains unchanged at 4 percent and the reverse repo rate — borrowing rate — at 3.35 per cent.
“The stance remains accommodative as long as necessary to revive and sustain growth on a durable basis, and continue to mitigate the impact of COVID-19 on the economy,” RBI Governor Shaktikanta Das said.
“The worst of the second wave is behind us, and substantial pickup in COVID-19 vaccination, giving greater confidence to open up and normalize economic activity,” he added. The Reserve Bank of India (RBI) has projected the Consumer Price Index (CPI) inflation at 5.3 per cent for the financial year 2022.
RBI Governor Shaktikanta Das, addressing a press conference here on Friday, informed that the CPI inflation for the first quarter of the financial year (FY) 2022-23 is projected at 5.2 per cent.
“The projection for real Gross Domestic Product (GDP) growth is retained at 9.5 per cent for FY 2021-22. This consists of 7.9 per cent in the second quarter, 6.8 per cent in the third quarter and 6.1 per cent in the fourth quarter of 2021-22,” Das said.