The Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the central bank has decided to keep key rates unchanged in its bi-monthly policy statement for the ninth consecutive time. The repo rate remains at 4 percent, reverse repo at 3.35 percent and the stance remains accommodative. There was a 5:1 majority to retain RBI's accommodative stance. The central bank had last revised the policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low. The 10-year bond yield falls from 6.39% to 6.36% as RBI Governor announces no change in reverse repo rate while rupee was seen close to day's low at 75.50.
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