Shillong, April 6: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has not changed the repo rate and maintained it at 6.5 percent, according to an announcement made by RBI Governor Shaktikanta Das.
According to Shaktikanta, the global economy is going through new turmoil, and the RBI would continue to concentrate on withdrawal of monetary policy accommodations. According to him, the May 2022 policy choices are still being implemented and the present policy rate is still accommodative.
The banks and non-banking financial systems are still sound, and India’s economy is still robust, with an anticipated growth of 7% in the current fiscal year.