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Repo rate remains unchanged at 4%

Part of: GS Prelims and GS – III – Economy

In news

RBI’s Monetary Policy Committee (MPC) has decided to keep its repo rate unchanged at 4%, in line with market expectations.

Key takeaways

RBI will maintain its ‘accommodative stance’ as long as required to sustain growth on a durable basis.
The RBI maintained its GDP growth forecast at 10.5% for 2021-22.

RBI also announced a series of measures to inject liquidity in the government securities market and the financial system.
It will ensure orderly conduct of government borrowing programmes.
In this respect, it announced a secondary market government securities (G-sec) acquisition plan worth Rs 1 lakh crore for April-June.
RBI has decided to set up a committee to review the working of Asset Reconstruction Companies to ensure how better these entities can support the financial sector.
In the policy review, the RBI decided to extend the RTGS and NEFT payments platforms to prepaid payment instruments, white label ATMs as well.

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