RBI Monetary Policy LIVE: RBI opens liquidity floodgates, plans Rs 1.2 lakh cr GSAP 2.0; GDP forecast trimmed

Reserve Bank of India Governor Shaktikanta Das will shortly announce the outcome of the second bi-monthly MPC meet.
(Image: REUTERS)

RBI MPC LIVE: The Monetary Policy Committee has kept policy rates unchanged once again at its bi-monthly review. The Repo rate has been maintained at 4% while the reverse repo rate is at 3.35%. Policy stance has been maintained at accommodative by the central bank in an effort to maintain liquidity in the system as the country continues to recover from the covid-19 pandemic and its economic implications. Anticipating some impact on the economy of the second covid-19 wave, RBI has trimmed the growth forecast for Financial Year 2021-22 to 9.5% from the earlier 10.5%. The central bank has stepped up its efforts to ensure liquidity in the system with another GSAP worth Rs 1.2 lakh crore planned for this fiscal year. 

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