What was the decision at the RBI Monetary Policy Committee meeting

Update on the outcome of the recent RBI MPC meeting regarding the policy rate.

The RBI Monetary Policy Committee (MPC) meeting resulted in the following decisions:

The repo rate was kept unchanged at 4%.
The reverse repo rate was maintained at 3.35%.
The central bank's stance on maintaining an accommodative stance to support economic growth was reiterated.
The GDP growth forecast for the current fiscal year was revised downwards to 9.5% from the earlier projection of 10.5%.
Inflation projections for FY 2021-22 were revised to 5.7% in Q2, 5.9% in Q3, and 5.3% in Q4.
RBI emphasized the need for continued policy support to nurture the ongoing economic recovery amidst uncertainties caused by the pandemic.

These decisions were made in consideration of the evolving economic scenario and the need to balance growth and inflation concerns.

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