RBI policy: Repo rate unchanged at 5.15%; FY21 GDP growth projected at 6%
The
monetary
policy committee
(MPC) of the Reserve Bank of India (RBI) on Thursday kept the repo
rate unchanged at 5.15 per cent — a 10-year low in its last policy
review of the financial year 2019-20 (FY20).
Consequently,
the reverse repo rate stands unchanged at 4.90 per cent.
Further,
the bank said it will maintain 'accommodative' policy stance as long
as it is necessary to revive growth, while ensuring that inflation
remains within the target.
The
committee voted 6-0 in favour of the status quo of the interest
rates.
GDP
growth forecast for the financial year 2020-21 (FY21) is projected at
6 per cent and in the range of 5.5-6.0 per cent in the first half of
the next fiscal and 6.2 per cent in Q3 (October-December period). GDP
growth for FY 2019-20 is seen at 5.0 per cent. Read
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