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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

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RBI monetary policy | monetary policy committee | Reverse Repo Rate

BS Web Team  | New Delhi 

EVENT HIGHLIGHTS

monetary policy LIVE: The (MPC) of the Reserve Bank of India on Friday decided to keep repo rate unchanged at 4 per cent. The stays at 3.35 per cent. The last changed policy rate on May 22.  It maintained the status quo on the benchmark lending rates in view of persistently high 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 will introduce risk-based internal audits in large urban co-op banks.

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