RBI Monetary Policy 2021 Update – Repo Rate remains unchanged at 4 Percent, Reverse repo rate and Bank rate stays same – Reserve Bank of India (RBI) announces its Repo Rates at its 4th bi-monthly review on Today (08.10.2021). RBI’s rate setting panel Monetary Policy Committee (MPC) started its 3 days deliberation on Wednesday (06.10.2021). MPC announced that the RBI keeps its key interest (Repo Rate) remains unchanged at 4 Percentage.
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In this 3 days review by MPC headed by RBI Governor Shaktikanta Das announced the following statements. For the 8th consecutive time RBI unchanged it’s Repo Rate at 4 pc. The reverse repo rate also remains unchanged for 3.35 pc and Bank rate also stays same at 4.25 pc. MPC remains to maintain its ‘Accommodative’ stance to support growth in the mid of Covid Pandemic.
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Most of Economist expected this that MPC will keep its lending rate unchanged because of commentary over inflation, economic growth and Fiscal tightening in future. Because of its result Sensex hiked over 200 points in early trades. Similarly Nifty points also rise due to this decision. RBI retains the Gross Domestic Product growth projects from 2021-22 at 9.5 pc.
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Repo Rate is a rate at Country’s Central Bank (in India RBI) lends money to commercial bank. Commercial Banks borrow money by selling their securities to RBI to maintain commercial bank’s liquidity shortage of funds or due to some statutory measures. Reverse repo rate is the interest offered by RBI to Commercial banks while depositing Commercial bank’s funds in RBI.
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