Monetary Policy Committee meeting of the Reserve Bank of India (RBI) was held from 2-4 June. Today, its outcome has been announced by Governor Shaktikanta Das. He informed that the repo rate has been retained at 4% and the reverse repo rate is at 3.35%. Regarding the estimate of GDP growth, the Governor said that the actual estimate for the financial year 2021-22 has been kept at 9.5%. RBI had not made any change in key interest rates in the last MPC meeting held in April. It was expected that the MPC may decide to maintain the status quo in policy rates due to the uncertainty created by the outbreak of the second wave of the COVID-19 pandemic.
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Monetary Policy Announcement: Repo rate kept unchanged at 4% by RBI
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