Growth Stimulating: RBI's MPC Retains Rates, Accommodative Stance
IANS 08 October 2021
The Reserve Bank of India (RBI) retained its key short-term lending rates during the October monetary policy review of FY21-22.
Besides, the growth-oriented accommodative stance was retained to give a push to economic activity.
Accordingly, the monetary policy committee (MPC) of the central bank voted to maintain the repo rate, or short-term lending rate, for commercial banks, at 4%.
Likewise, the reverse repo rate was kept unchanged at 3.35%, and the marginal standing facility (MSF) rate and the 'Bank Rate' at 4.25%.
It was widely expected that MPC would hold rates and the accommodative stance.
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