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April 7, 2021

RBI Keeps Repo Rate Unchanged, Read Governors Speech

by CA Shivam Jaiswal in RBI

RBI Keeps Repo Rate Unchanged, Read Governors Speech

Highlights

  • The Reserve Bank of India (RBI) decided to keep key lending rates unchanged for the fifth consecutive time in its April policy review meeting. The six-member monetary policy committee (MPC), headed by governor Shaktikanta Das, retained repo rate at 4 per cent and reverse repo rate at 3.35 per cent, while maintaining accommodative stance.
  • Repo rate is the rate at which the RBI lends to banks, while reverse repo rate is the rate at which it borrows from banks. The Reserve Bank mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.
  • FY 22 GDP forecast growth maintain at 10.5%
  • RBI proposes INRIT secondary market GSEC acquisition market
  • For domestic economy, focus must now be on containing spread of virus, and economic revival.
    Need to consolidate gains made so far, sustain impulses of growth in FY22.
  • Strengthening bedrock of macro stability will help stakeholders take efficient spending decisions
  • Economic activity is normalising in spite of surge in Covid-19 infections.
  • Firms engaged in manufacturing, services and infrastructure polled by RBI in March are optimistic about the pick-up in demand and expansion in business activity in FY22.
  • Urban demand has gained traction and should get fillip from recent vaccination drive.
  • In India we are now better prepared to face challenges from recent resurgence of infections. RBI Keeps unchanged Repo and reverse Repo rate…FY22 GDP forecast 10.5%….10-year G-Sec Yield surges 6bps at 6.18%
  • The Reserve Bank of India (RBI) decided to keep key lending rates unchanged for the fifth consecutive time in its April policy review meeting. The six-member monetary policy committee (MPC), headed by governor Shaktikanta Das, retained repo rate at 4 per cent and reverse repo rate at 3.35 per cent, while maintaining accommodative stance.
  • Repo rate is the rate at which the RBI lends to banks, while reverse repo rate is the rate at which it borrows from banks. The Reserve Bank mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.
  • FY 22 GDP forecast growth maintain at 10.5%
  • RBI proposes INRIT secondary market GSEC acquisition market
  • For domestic economy, focus must now be on containing spread of virus, and economic revival. Need to consolidate gains made so far, sustain impulses of growth in FY22.
  • Strengthening bedrock of macro stability will help stakeholders take efficient spending decisions
  • Economic activity is normalising in spite of surge in Covid-19 infections.
  • Firms engaged in manufacturing, services and infrastructure polled by RBI in March are optimistic about the pick-up in demand and expansion in business activity in FY22.
  • Urban demand has gained traction and should get fillip from recent vaccination drive.
  • In India we are now better prepared to face challenges from recent resurgence of infections.

Read Governors Speech

PR15GOVERNOR5AA91FD102FB403291B57E2BEDD74D54

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