RBI keeps repo rate unchanged at 4%; pegs GDP growth at 10.5%
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday decided to keep key lending rates unchanged for the fifth consecutive time in its April policy review meeting. While, it retained the gross domestic product (GDP) growth at 10.5 per cent.
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.
The central bank also stuck to its accommodative stance amid concerns that rising Covid-19 infections could derail the country's nascent economic recovery.
"The MPC judged that monetary policy should remain accommodative till prospects of sustained recovery are well secured," RBI governor Shaktikanta Das said.
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 Marginal Standing Facility (MSF) rate and the bank rate remain also unchanged at 4.25 per cent.
GDP forecast retained
RBI retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in Covid-19 infections has created uncertainty over the economic growth recovery.
Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
GDP growth at 10.5 is just an election time gimmick. Not reality.
It's a stroke by the master feku.
All set folks. Pakoda industry will reverse fortunes and GDP and economy will grow.
the guy who talks about chai and pakodas . do we really need such leaders .
What is going to be so special in mfg and services sector that GDP will grow this much. Election time prachar mantri.
Very soon RBI will not be required. it will be sold
Now RBI does not exst otherwise
Whose GDP Mr RBI? Feku's? Tadipar Gainda's? Adani and Ambani's must be 100%
They are only repeating the jumlas ordered by their master.
10.5 what is he smoking?
another paid puppet clown of fekuramji
A Masters in History predicting India’s GDP growth rate ! What a joke this is.
India must be the first nation in the world to announce GDP growth at 10% amid pandemic and other nations must have already realized how hollow is our govt and its claims
This is fraud as RBI does not exst in BJP regime.
Is there a RBI functioning in India? I thought already it is removed like PC during this nabekalebar of BJP at the centre.
why don't the fekuram sarkaar privatize the RBI ?
RBI is not required at all in India. Modi is all in one. He himself is the RBI governor and PM of India
Why even stop at 26% for Q1? Why not "forecast" 79% or even 107.5% growth?
What the he'll is happening in India in last 6 years growth rate is pathetic. Seems Rahul baba better than Feku baba���
When GDP is reported to be sub 5 % because of genuine reasons like Virus, the scam devotees cry GDPee GDPee. When its growing 10 percent they start saying election gimmick.