To continue with its growth supporting stance, the Reserve Bank of India retained its key short-term lending rates during the third monetary policy review of FY22.

Besides, the growth-oriented accommodative stance was retained to give a push to economic activity despite high retail inflation levels.

Accordingly, the Monetary Policy Committee (MPC) of the central bank voted to maintain the repo rate, or short-term lending rate, for commercial banks at 4 per cent.

Likewise, the reverse repo rate was kept unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and the ‘Bank Rate’ at 4.25 per cent.

It was widely expected that MPC would hold rates and the accommodative stance.

–IANS

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