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RBI keeps rates unchanged

Date: 09 October 2021 Tags: Monetary Policy & RBI
  • The Reserve Bank of India’s (RBI) monetary policy committee (MPC) kept policy rates unchanged at 4 per cent for the eighth consecutive time and continued with the accommodative stance.
  • The six-member MPC, headed by governor Shaktikanta Das, met for three days from October 6.
  • Repo rate is the rate at which the RBI lends to banks, while reverse repo rate is at which it borrows from banks.
  • The RBI had last revised its policy repo rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.