Policy support: RBI MPC retains accommodative stance, repo rate

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The Reserve Bank of India (RBI) on Friday retained its key lending rate during the first monetary policy review of FY23.

Besides, the growth-oriented accommodative stance was also retained.

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

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

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