RBI keeps Repo rate unchanged at 4 pc

Mumbai:  The Reserve Bank of India (RBI)  kept the interest rates unchanged at bimonthly monetary policy review today.

• RBI to maintain accommodative stance, says Governor Shaktikanta Das after meeting of Monetary Policy Committee.

• Global economic activity has remained fragile; surge in Covid cases has subdued early signs of revival, says RBI Governor.

• Economic activity had started to recover, but surge in infection has forced imposition of lockdowns, says Das.

• Supply chain disruptions persist; inflation pressures evident across segments, says RBI Governor.

• Monetary Policy Committee expects inflation to remain elevated in Q2, ease in second half of fiscal, says RBI Governor.

• India’s economic growth to contract in first half of fiscal beginning April 2020, says Das.

• Real GDP growth to remain in negative zone in 1st half and in full fiscal, says RBI Governor.

(PTI)