The Reserve Bank of India(RBI) issued its Bi-Monthly Monetary Policy Statement via a Press Release. RBI Governor Shaktikant Das addressed the media and put forward the highlights and the major changes that have been brought in by the Monetary Policy Committee. Similar to the June 2020 Monetary Policy Statement, this time too, RBI focused on easing the financial stress caused by the Covid-19 Disruptions. Following are the focal points of the Monetary Policy Statement issued by RBI today: 1.Monetary Policy Committee (MPC) decided to keep the Repo Rate unhinged at 4 Percent. Consequently, the Reverse Repo Rate stands at 3.35 Percent and the Bank Rate stands at 4.25 Percent. The MPC decided to continue with the accomodative stance to revive growth and mitigate the impact of Covid-19 on the Indian Economy, while ensuring that inflation remains within the target going forward. Assessments of Global Economy 1.MPC has assessed that the Contractions in the economic activity have been more ...
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