RBI keeps repo rate unchanged at 4%, pegs 10.5% GDP growth

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RBI keeps repo rate unchanged at 4%, pegs 10.5% GDP growth
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New Delhi, April 7

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The RBI on Wednesday expectedly saved rates of interest unchanged and mentioned it will assist out the federal government by shopping for Rs 1 lakh crore of its bonds throughout this quarter.

As a consequence, the RBI’s key lending rate (repo rate) stays at 4 per cent and borrowing rate (reverse repo) at 3.35 per cent. RBI Governor Shaktikanta Das mentioned the coverage panel determined to proceed with low curiosity rate regime to maintain sturdy growth and mitigate the pandemic’s impression on the financial system.

The RBI retained its GDP growth outlook for the present fiscal at 10.5 per cent after a 7.5 per cent contraction in final fiscal. The central financial institution dedicated to purchase Rs 1 lakh crore of presidency bonds within the first quarter. — TNS


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