Digital Desk, New Delhi Delhi. Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced a review of the lending policy. Accordingly, the RBI has left no change in interest rates this time. This means that the repo rate is still 4 percent and the reverse repo rate is 3.35 percent.
Announcing the decisions taken at the RBI Monetary Policy Committee (MPC) meeting, Das said the country’s economic growth prospects have improved significantly and inflation has come down to 6 per cent.
Reserve Bank of India Governor Shri Shaktikanta Das addressed the gathering https://t.co/Yr2FmWVd30
– Reserve Bank of India (@RBI) February 5, 2021
He said inflation was less than 4 per cent. The RBI governor has projected the country’s economic growth rate to be 10.5 per cent of GDP growth in 2021.22.
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“We have tested our strength in 2020 and we are creating a new economic era in 2021,” he said. RBI Governor Shaktikanta Das told a press conference that inflation may be 5.2 per cent between January and March.
Explain that the repo rate is the rate at which banks borrow from the Reserve Bank of India. The rate at which banks pay interest on this loan to the RBI is called the repo rate.