RBI Monetary policy LIVE: FY21 GDP contraction outlook revised to 7.5%
RBI Monetary policy LIVE updates: MPC voted unanimously to keep rates unchanged, said RBI governor Shaktikanta Das. Stay tuned for all the LIVE updates
BS Web Team |
Last Updated at December 4, 2020 11:05 IST
RBI monetary policy LIVE: The Monetary Policy Committee (MPC) of the Reserve Bank of India on Friday decided to keep repo rate unchanged at 4 per cent. The reverse repo rate stays at 3.35 per cent. The RBI last changed policy rate on May 22. It maintained the status quo on the benchmark lending rates in view of persistently high inflation and a lower-than-expected contraction of the economy.
The banking regulator has informed commercial and co-op banks to not give out dividends this year and retain all the profits, the governor said. He added that RBI will introduce risk-based internal audits in large urban co-op banks.
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