 "RBI")
For the record, the Monetary Policy Committee (MPC), the Indian central bank’s rate-setting body, at its meeting last week left the key policy rates — repo and reverse repo — unchanged, at 4 per cent and 3.35 per cent, respectively. For the 11th consecutive time since May 2020. The Reserve Bank of India (RBI) absorbs liquidity from the banking system at reverse repo rate and infuses it at repo rate.
It also left the monetary policy’s stance unchanged — accommodative.
Finally, the RBI raised its inflation forecast and pared forecast for growth for the year. While the average inflation forecast
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