RBI keeps repo rate, reverse repo rate unchanged

Reserve Bank of India (RBI) on August 06 announced that repo rate and reverse repo rate will remain unchanged.

RBI Governor Shaktikanta Das said, "Repo rate remains unchanged at 4% and Reverse repo rate also remains unchanged at 3.35%.

Accommodative stance of the monetary policy will continue as long as necessary to revive growth and mitigate the impact of COVID-19 pandemic, while ensuring that inflation remains within target going forward." He further said, "Monetary Policy Committee (MPC) noted that in India too, economic activity had started to recover, but surges of fresh infections have forced fresh lockdowns, hence several high-frequency indicators have levelled off."