RBI Monetary Policy Highlights: Central Bank Holds Rates, Pegs 6% Growth In 2020-21
RBI Monetary Policy Highlights: Reserve Bank of India (RBI) Governor Shaktikanta Das-led Monetary Policy Committee announced its decision to keep the key lending rates at existing levels on Thursday. All six members of the MPC voted in favour of maintaining the status quo on monetary policy, which was in line with economists' expectations. The repo rate - or the interest rate at which the RBI lends short-term funds to commercial banks - was left steady at 5.15 per cent, the lowest level recorded in more than nine years. The Monetary Policy Committee decided to continue with an "accommodative" policy stance "as long as it is necessary to revive growth, while ensuring that inflation remains within the target". All six members of the Monetary Policy Committee voted in favour of maintaining the status quo on policy.