RBI policy: Repo rate unchanged at 5.15%; FY21 GDP growth projected at 6%

The monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Thursday kept the repo rate unchanged at 5.15 per cent — a 10-year low in its last policy review of the financial year 2019-20 (FY20).

Consequently, the reverse repo rate stands unchanged at 4.90 per cent.
Further, the bank said it will maintain 'accommodative' policy stance as long as it takes.
The committee voted 6-0 in favour of the status quo of the interest rates.
GDP growth forecast for the financial year 2020-21 (FY21) is projected at 6 per cent and in the range of 5.5-6.0 per cent in the first half of the next fiscal. while real GDP growth for 2019-20 was projected in the
December 2019 policy at 5.0 per cent – 4.9-5.5 per cent in H2.
In its last policy meet, the central bank had maintained the repo rate at 5.15 per cent points (bps). However, GDP growth forecast for FY20 was slashed to 5 per cent from 6.1 per cent. Read More