New Delhi: With the economy is yet to recover from the impact of the second COVID wave, the Reserve Bank of India (RBI) on Friday kept the benchmark interest rate unchanged for the seventh time in a row at 4 per cent.
Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das took the decision to maintain the status quo to support the ongoing growth recovery amid continued uncertainty and global financial market volatility.
The accommodative stance of MCP also saw the reverse repo rate being kept unchanged at 3.3 per cent.
The MPC has been given the mandate to maintain annual inflation at 4 per cent until March 31, 2026, with an upper tolerance of 6 per cent and lower tolerance of 2 per cent.
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