RBI maintains status quo for fourth time, keeps policy rate unchanged at 4%

The reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with the RBI

The Reserve Bank of India on Friday left the benchmark interest rate unchanged at 4 per cent for a fourth time, but decided to maintain an accommodative stance, indicating more rate cuts in the future in order to support the economy hit by the Coronavirus (Covid-19) pandemic.

The benchmark repurchase (repo) rate was left unchanged at 4 per cent (+/- 2 per cent), Governor Shaktikanta Das said while announcing the decisions taken by the central bank's Monetary Policy Committee (MPC).

Meanwhile, the reverse repo rate will also continue to