RBI keeps repo rate unchanged at 4% for fourth time in a row

RBI Governor Shaktikanta Das announced the policy decision of the Monetary policy committee on Friday. Das said the Monetary policy committee decided to keep policy repo rate unchanged at 4%. This is the first MPC meeting after the presentation of the Union Budget 2021-22. "The Monetary policy committee voted to keep the policy repo rate unchanged at 4%. The accommodative policy stance remains unchanged. Marginal standing facility rate and bank rate stays at 4.25%. The reverse repo rate stands unchanged at 3.35%," Das said. The RBI governor added, "Inflation has eased below the tolerance level of 6%. Outlook on growth has improved significantly with positive growth impulses becoming broad based. MPC judged that the need of the hour is to continue supporting growth amid Covid pandemic. 2021 is setting the stage for a new economic era in the course of our history."