of Reserve Bank of India (RBI) Governor Shaktikanta Das announced the monetary policy at the meeting of the Monetary Policy Committee of the Reserve Bank of India on Friday. The MPC has not made any change in the policy rates. The repo rate remains unchanged at 4 per cent. This is the 10th time in a row that the central bank has not changed interest rates. Earlier, the Reserve Bank of India had last revised the repo rate on May 22, 2020.
RBI Governor Shaktikanta Das said that the reverse repo rate has been increased by 0.40 percent. Now it has increased to 3.75 percent. Marginal Standing Facility Rate (MSFR) and Bank Rate will be 4.25%. The policy stance has been kept ‘favourable’. In the future, we will change the approach to optimization.