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RBI leaves repo rate unchanged at 4%

Reserve Bank of India has kept the repo rate unchanged at 4 per cent. Governor Shashikanta Das announced this during his press conference.

India TV Business Desk India TV Business Desk
New Delhi Updated on: August 06, 2020 12:41 IST
RBI leaves repo rate unchanged at 4%
Image Source : PTI

RBI leaves repo rate unchanged at 4%

Reserve Bank of India has kept the repo rate unchanged at 4 per cent. Governor Shashikanta Das announced this during his press conference. The reverse repo rate has also remained unchanged at 3.3 per cent, Das announced. 

The RBI on Thursday opted for a status quo and left interest rates unchanged, but maintained an accommodative stance, implying more rate cuts in future if the need arises to support the economy hit by the COVID-19 crisis.

The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's Monetary Policy Committee (MPC).

Consequently, the reverse repo rate will also continue to earn 3.35 per cent for banks for their parked deposits kept with the RBI.

He said the MPC voted for keeping interest rate unchanged and continued with its accommodative stance to support growth.

RBI had last revised its policy rate on May 22, in an off-policy cycle to perk up demand by cutting interest rate to historic low.

 

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