RBI governor announced bi-monthly monetary policy review for the month of December and the six-member monetary policy committee (MPC) headed by Shaktikanta Das met for three days from February 3.
The Interest rates are left unchanged for 4th time in a row. The Short-term lending rate (repo) stands at 4 pc. RBI decides to continue with accommodative stance as long as necessary. RBI projects GDP growth at 10.5 pc for 2021-22. RBI revises retail inflation outlook; 5.2 pc for Q4:2020-21, 5 pc in H1:2021-22 & 4.3 pc for Q3:2021-22;
RBI to restore CRR to 4 pc in two phases beginning March 2021. It proposes to provide funds from banks under TLTRO on Tap scheme to NBFCs for incremental lending. It also RBI announces new scheme to incentivise new credit flow to MSME
RBI will set up panel to provide a medium term road map for strengthening of Primary (Urban) Co-operative Banks. Retail investors will get direct access to government securities market and India is will become the only country in the world to provide this access.
