Day: April 7, 2021

RBI keeps repo rate unchanged at 4%; retains FY22 GDP growth projection to 10.5%, Auto News, ET Auto

New Delhi: The clean surge in coronavirus instances compelled the Reserve Financial institution of India (RBI) to opt for a standing quo on plan premiums. Even with recovery underway, RBI governor Shaktikanta Das remaining the desire charge unchanged and taken care of an accommodative stance on Wednesday. This implies that the central bank may go for additional charge cuts in upcoming if required to aid the economic system.

The benchmark repurchase (repo) charge has been remaining unchanged at 4%, Governor Shaktikanta Das claimed when asserting the selections taken by the Monetary Coverage Committee of the central bank.

As a result, the reverse repo charge will also go on to earn three.35% for banking companies for their deposits saved with the RBI. 1 basis position is a single-hundredth of a share position. Repo charge is the charge at which banking companies borrow dollars from the central bank, and reverse repo is

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