RBI's policy review meet raises concerns over surging COVID-19 crisis & keeps the repo rate intact
August 6, 2020
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3:38Now PlayingRBI's policy review meet raises concerns over surging COVID-19 crisis & keeps the repo rate intact
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as posted by the channelThe Reserve Bank of India Governor Shaktikanta Das addressed the media after the three-day MPC meeting. One of the key highlights from his briefing was that the existing repo rate remains unchanged at 4% after 115 basis points reduction between March and May.
Das stated, ‘MPC voted unanimously in favour of status quo, leaving repo rate and reverse repo rate unchanged. Global economic activity has remained fragile. Borrowing rates have fallen to the lowest level in a decade. India's economic growth contracted in the first half of the fiscal beginning in April 2020. Real GDP growth to remain in a negative zone in 1st half and in full fiscal’.
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