Speaking on the occasion, RBI Governor Shaktikanta Das said that growth was seen in all sectors. He said the focus was now on recovery rather than stopping Kovid.
Ahead of the festive season, the Reserve Bank announced the results of the Monetary Policy Committee (MPC) meeting. RBI Governor Shaktikanta Das briefed about the results of the meeting through a press conference. In particular, he said there was no change in the repo rate. That means the repo rate has remained stable at 4 per cent.
In view of the festive season, the RBI is all set to cut the repo rate to boost demand in the market. However, nothing like that happened. Also last August at the RBI Monetary Policy Committee meeting, it announced that there would be no change in the repo rate. However, the central bank had earlier cut the repo rate by 1.15 per cent in the last two sessions. Currently, the repo rate is four per cent and the reverse repo rate is 3.35 per cent.
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Speaking on the occasion, RBI Governor Shaktikanta Das said that growth was seen in all sectors. He said the focus was now on recovery rather than stopping Kovid.
The Monetary Policy Committee (MPC) is scheduled to meet on September 28. But the meeting was postponed due to the appointment of committee members. The government has appointed three members to the MPC. Three prominent economists Ashima Goyal, Jayant R Verma and Shashank Bhide have been appointed as MPC members. These members were replaced by Chetan Ghate, Pami Dua and Ravindra Dholakia. His term ended in September.
