The Reserve Bank of India (RBI) today said that the monetary policy review has decided to continue with an accommodative stance of monetary policy to maintain status quo on key policy rates.
This will continue as long as necessary at least through the current financial year and into next year to revive growth and mitigate the impact of Covid 19. The repo rate is kept unchanged at 4 percent and the reverse repo rate at 3.35 percent. While announcing the policy review the RBI governor Shaktikant Das growth is projected at 10.5 percent in the said that the GDP Financial Year 2021-22.
He said projection of CPI inflation has been revised to 5.2 percent for the fourth quarter of the current financial year. He added that the year 2020 tested the capabilities and endurance, 2021 is setting the stage for a new economic era in the course of our history.
RBI governor also assured that the retail direct plan will not harm the banks and said that with growth in GDP the Indian economy will continue to grow and the total volume of savings and deposits will expand with it. He said that the digital currency is progress at the central bank and the government is looking to launch a state owned digital currency. a work in