RBI Monetary Policy: The Reserve Bank of India (RBI) in its Monetary Policy Committee (MPC) review meeting announced the gross domestic product (GDP) growth for the next fiscal year at a record low of 10.5 per cent. The economic growth figure projected by the central bank committee is lower than the figures predicted by the International Monetary Fund (IMF) and the Economic Survey. The International Monetary Fund projected the economic growth at 11.5 per cent, while the economic survey 2021, presented by Chief Economic Advisor KV Subramanian projected it at 11 per cent.
RBI Governor Shaktikanta Das said that the central bank will maintain an accommodative stance for as long as required, in view of keeping the economic recovery on track amid the COVID-19 crisis. Mr Das announced that the repo rate and reverse repo rates are unchanged at four per cent and 3.35 per cent , respectively. (Follow LIVE Updates: RBI Governor-Led MPC Keeps Repo Rate Unchanged At 4%, Ensures Ample Liquidity )