The Reserve Bank of India (RBI) on Thursday opted for a status quo and left interest rates unchanged, but maintained an accommodative stance, implying more rate cuts in future if the need ෴arises to support the economy hit by the COVID-19 crisis.
The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said🧸 while announcing the decisions taken by the central bank's Monetary Policy Committee (MPC).
Consequently♉, the reverse repo rate will also continue to earn 3.35 per cent for banks for their parked deposits kept ⭕with the RBI.
He said the MPC voted🐷 for keeping interest rate unchanged and continued wiꦏth its accommodative stance to support growth.
RBI had last revised its policy rate on May 22, in an off-policy cycle to perk ඣup demand by cutting interest rate to historic low.
