RBI keeps repo rate unchanged at 4 per cent, reverse repo at 3.35
Consumer Price Index (CPI) inflation is expected to moderate closer to 4.00 per cent target in second half of FY23 and provide room for monetary policy to remain accommodative.
Mumbai: Reserve Bank of India keeps repo rate unchanged at 4 per cent, maintains accommodative stance; reverse repo rate remains unchanged at 3.35 per cent in the Monetary Policy statement issued by RBI Governor Shashikanta Das.
Shashikanta Das, said, "The [Monetary Policy Committee] MPC has voted unanimously to keep policy repo rate unchanged at 4 percent. M'Accommodative' stance to continue as long as needed. MSF rate and bank rate remain unchanged at 4.25 per cent. Reverse repo rate also remains unchanged at 3.35 per cent."
Consumer Price Index (CPI) inflation is expected to moderate closer to 4.00 per cent target in second half of FY23 and provide room for monetary policy to remain accommodative. GDP growth projected at 7.8 per cent for FY23.
"India is charting a different course of recovery from rest of the world. India poised to grow at fastest pace year-on-year among major economies as per projections by IMF. This recovery is supported by large scale vaccination and sustained fiscal and monetary support". said Das.
