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The Reserve Bank of India expectedly maintained its repo rate at 4.0%, reverse repo rate at 3.35% and marginal standing facility at 4.25%.
Monetary Policy Committee members voted unanimously on status quo and maintained an ‘accommodative’ stance.
Several measures like targeted long-term repo operation extension to contact-intensive sectors, enhancement of exposure thresholds under resolution framework and more were also announced by the RBI in today’s policy.
The projection of real gross domestic product growth for 2021-22 was revised down to 9.5% from 10.5%, consisting of 18.5% in Q1; 7.9% in Q2; 7.2% in Q3; and 6.6% in Q4.
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