The repo rate — the central monetary institution’s lending rate — stays unchanged at 4 per cent and the reverse repo rate — borrowing rate — at 3.35 per cent.
The Reserve Monetary institution of India (RBI) on Friday (October 8) kept the repo rate unchanged for the eighth time straight and continued with an accommodative stance.
The repo rate — the central monetary institution’s lending rate — stays unchanged at 4 per cent and the reverse repo rate — borrowing rate — at 3.35 per cent.
“The stance stays accommodative so long as obligatory to revive and care for boost on a durable basis, and proceed to mitigate the affect of COVID-19 on the financial system,” RBI Governor Shaktikanta Das mentioned.
“The worst of the second wave in the abet of us, and gargantuan pickup in COVID-19 vaccination, giving better self belief to birth up and normalize financial exercise,” he added.
