Mumbai, Aug 6 (PTI) Following are the highlights of announcements made by RBI Governor Shaktikanta Das after the third bi-monthly monetary policy review by MPC on Friday:
- Monetary Policy Committee keeps key interest rate (repo) unchanged at 4 pc for 7th consecutive time;
- Consequently, reverse repo rate too remains unchanged at 3.35 pc;
- Bank rate also remains same at 4.25 pc;
- RBI to continue its accommodative stance to sustain growth amid COVID;
- Retail inflation (CPI) projection at 5.7 pc during 2021-22; may drop to 5.1 pc in Q1 of next fiscal;
- RBI retains GDP growth projection for 2021-22 at 9.5 pc;
- RBI says some high-frequency indicators looking up again during June-July;
- RBI proposes to conduct two more auctions of ₹ 25,000 crore each in August under G-SAP 2.0;
- Repo rate cut by 250 bps since February 2019, reduced bank lending rate by 217 bps;
- RBI says domestic borrowing costs have eased;
- Transmission to lending rates has been stronger for MSMEs, housing and large industries;
- Significant cut in interest rates on personal housing loans and loans to commercial real estate sector augurs well for the economy;
- RBI announces additional measures on liquidity front;
- After onset of COVID pandemic, RBI says it announced over 100 measures to mitigate its impact;
- Next meeting of the MPC scheduled for October 6 to 8.
