The Reserve Bank of India (RBI) on Wednesday (April 7) kept key interest rates unaltered and maintained an accommodative policy stance to nurture a fragile economic recovery amid new wave of Covid-19 cases.
The Reserve Bank of India (RBI) kept the repo rate unchanged at 4 per cent. RBI had kept the key interest rate (repo) unchanged for the fifth consecutive meeting.
Announcing the bi-monthly policy today the governor said that the RBI will remain accommodative as long as necessary to sustain growth on a durable basis.
RBI said India’s GDP Growth is projected at 10.5 per cent in the financial year 2021-22 while inflation is seen at 5.2% in the first half of FY22.
In spite of surge in Covid-19 infections, the economic activity is normalising the governor said adding that urban demand has gained traction and should get fillip from recent vaccination drive.
