Connect with us

Hi, what are you looking for?

[t4b-ticker]

Business

RBI Keeps Interest Rates Intact, Retains 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.

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. (File Photo)

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.

ALSO READ: Rupee Recovers By 19 Paise To End At 74.79 Against US Dollar

“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.

You May Also Like

India

Undeterred by majoritarianism, Sadaf Jafar, a former school teacher from Lucknow, wants to fight the 2022 Uttar Pradesh Election.

Cricket

Shaheen Afridi won the Man of the Match award for his match winning performance, picking 3 wickets for 31 runs.

Entertainment

Dadasaheb Phalke Award is given for excellence in cinematic achievement, is the highest honour in film and is awarded by the government.

Cricket

The 'Black Lives Matter' movement had gained momentum after the death of an African-American man George Floyd in May last year.

Advertisement