Highlights of RBI monetary policy review


PTI, Aug 6, 2021, 12:06 PM IST

Mumbai: 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, the reverse repo rate to 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 Rs 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;
  • A significant cut in interest rates on personal housing loans and loans to the commercial real estate sector augurs well for the economy;
  • RBI announces additional measures on liquidity front;
  • After the onset of the COVID pandemic, RBI says it announced over 100 measures to mitigate its impact;
  • The next meeting of the MPC is scheduled for October 6 to 8

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