RBI Keeps Key Rates Unchanged, Says Recovery "Uncertainty" Due To Covid
RBI Keeps Key Rates Unchanged, Says Recovery "Uncertainty" Due To Covid
Reserve Bank of India Governor Shaktikanta Das has kept the repo rate unchanged amid a surge in Covid-19 cases and imposition of fresh restrictions to control the rampaging virus.
The RBIGovernor also said the bank willcontinue with an accomodative stance
Reserve Bank of India Governor Shaktikanta Das has kept the key rates unchanged, saying the recent resurgence in Covid-19 infections has created "uncertainty" about recovery in economic growth. The central bank retained the repo rate at 4 per cent and the reverse repo rate at 3.35 per cent. The RBI Governor said that vaccine distribution and its efficacy is key to global economic recovery and asserted that the bank will continue with an accomodative stance as long as necessary to mitigate the impact of the COVID-19 pandemic.