New Delhi: The Reserve Bank of India has kept the repo rate change in its first Monetary Policy Committee meeting following the Union Budget. After the announcement, the repo rate remains at 5.15 per cent. All six members of Monetary Policy Committee vote in favour of maintaining status quo on interest rate. The committe pegged the GDP growth rate for 2020-21 at 6 per cent.
The Reserve Bank has also maintained its stance as accommodative. It said that the stance will remain as as long as it takes. “Economy continues to be weak, output gap remains negative,” the Shanktikandas Das-led RBI panel said.
“Economic activity remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner. Given the evolving growth-inflation dynamics, the MPC felt it appropriate to maintain status quo,? the Monetary Policy Committee (MPC) said.
Addressing the media, RBI governor Shaktikanta Das said that there are other ways with which RBI can revive growth.
