RBI goes for status quo

Mumbai: To subdue unabatedly high inflation rate, the Reserve Bank of India (RBI) kept the key lending rates unchanged.

Accordingly, the Monetary Policy Committee of the central bank maintained the repo rate - or short-term lending rate for commercial banks, at 4 per cent.

The MPC voted to maintain accommodative stance, thus opening up possibilities for more future rate cuts.

Status quo

Repo rate: 4%

Reverse repo rate :3.35%

Marginal Standing Facility Rate : 4.25%

Bank Rate : 4.25%

GDP take

FY21 GDP projection at -7.5%

Q3FY21 GDP projection at 0.1%

Q4FY21 GDP projection at 0.7%

Inflation

CPI inflation for Q3 seen at 6.8%, 5.8% in Q3, Q4