RBI keeps repo rate unchanged at 4%, maintains accommodative stance

Mumbai, June 04 (ANI): Amid on-going COVID pandemic, Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 4% and to continue with accommodative stance. In a virtually press conference, RBI Governor Shaktikanta Das on June 04 said, “Monetary Policy Committee (MCC) voted to maintain status quo i.e. repo rate remains unchanged at 4%. MCC also decided to continue with accommodative stance as long as necessary to revive and sustain growth on durable basis and to mitigate impact of COVID on economy.” “Marginal Standing Facility (MSF) rate and bank rates remain unchanged at 4.25%. The reverse repo rate also remains unchanged at 3.35%,” he added.