Reserve Bank of India (RBI) governor Shaktikanta Das during the Monetary Policy Committee(MPC) statement made several announcements to boost the economic recovery of the country and enhance digital platforms for the access of all.
Here are the key highlights of the governor’s statement:
First and foremost of all, the central bank maintained the status quo in the repo rate as it stands unchanged at 4 per cent and the reverse repo rate stands at 3.35 per cent. He said the MPC unanimously decided to keep the rates unchanged to mitigate the impact of the Covid-19 pandemic.
The governor of the central bank said the projection of the real GDP growth for the fiscal period of 2021-2020 is retained at 10.5 per cent. On Tuesday, the International Monetary Fund (IMF) projected India’s growth rate to jump to 12.5 per cent in 2021.
