New Delhi: The Reserve Bank’s Monetary Policy Committee has not changed the interest rates. The 6-member Monetary Policy Committee headed by Reserve Bank of India Governor Shaktikanta Das has decided not to change the interest rates. Repo rate remains at 4%. The MPC has unanimously decided this. The reverse repo rate remains at 3.35 per cent. Let us know that the meeting of the MPC started on October 7. Earlier this meeting was to be held from 29 September to 1 October.
Earlier in August, the RBI MPC met, in which interest rates did not change. Earlier in May, interest rates were cut by 40 basis points and in March 75 basis points. So far this year, 115 basis points have been cut in rates. This time at the same time, from February 2019 till now, MPC has cut the repo rate by 2.50 per cent. All 6 MPC members voted in favor of keeping the interest rates stable. The approach to interest rates remains intact.
Shaktikanta Das said that it is expected that in the last and fourth quarter of January-March 2021 i.e. the current fiscal year, GDP growth can be seen in positive. However, it is estimated that in FY21 real GDP growth may decline by 9.5 per cent. Announcing the monetary policy, RBI Governor Shaktikanta Das said that now the focus of RBI is more on revival after Kovid. He says that the recent economic data are showing good signs. There are strong signs of recovery in the global economy. Recovery has been seen in many countries in manufacturing, retail sales. Consumption, export have also shown improvement in many countries.
