The Reserve Bank of India Governor Shaktikanta Das kept the GDP growth projection for FY 2021-22 unchanged at 10.5 per cent. The RBI Governor made the announcement at the end of the press address, post the 3-day review meet that began on Monday.
Meanwhile, the RBI Governor Shaktikanta Das has kept the key rates unchanged. The central bank kept the repo rate – the key interest rates at which the RBI lends money to commercial banks – unchanged at 4 per cent and the reverse repo rate – the rate at which RBI borrows from banks – untouched at 3.35 per cent. The RBI Governor also said the bank will continue with an accomodative stance “as long as necessary to mitigate the impact of the COVID-19 pandemic”.
The recent surge in Covid19 cases must be closely watched, the RBI Governor asserted.