RBI monetary policy LIVE:
The Reserve Bank of India’s (RBI’s) six-member monetary policy committee, headed by Governor Shaktikanta Das, announced the outcome of its bi-monthly monetary policy review today. Given the rise in the spread of coronavirus and the imposition of fresh restrictions to contain the virus spread, the RBI
decided to maintain status quo on the benchmark repo rate — the rate at which the central bank lends short-term funds to banks — at 4 per cent. It also kept the accommodative monetary stance unchanged today to nurture a fragile economic recovery.
The policy announcement, the first for the fiscal, will come days after the government maintained the RBI’s target to ensure inflation
to be within 2-6 per cent band for five more years.