- RBI has decided to keep interest rates unchanged for the third time in a row and has maintained the policy stance at ‘accommodative’.
- As per the decisions from MPC Committee members, the repo rate or the rate at which RBI lends to the banks in unchanged to 4%.
- The reverse repo rate under the LAF is also unchanged at 3.35%.
- The Marginal Standing Facility (MSF) rate and Bank Rate is also kept unchanged at 4.25%.
- These decisions to maintain to status quo on policy rates are taken because of inflation.
- Also, RBI Governor proposed to place criteria for NBFC dividend distribution by introducing risk-based audit in large NBFCs and Cooperative banks.
- He also mentioned about the RTGS to be made 24x7 very soon.
- As per RBI, the CPI inflation is at 6.8% for Q3 and at 5.8% for Q4.
- Also, the Governor stated that GDP growth for the fiscal year 2021 is at -7.5%.
- The central bank also proposed to increase the limit for contactless card payments from Rs 2000 to Rs 5000 from January 2021.
- Static Part:
- HQ of RBI: Mumbai
- Governor of RBI: Shaktikanta Das
Question:
Q.1 What is the current reverse repo rate under the LAF decided in recent Reserve Bank of India’s MPC meeting?
a. 4.35%
b. 3.35%
c. 4.55%
d. 3.55%
a. 4.35%
b. 3.35%
c. 4.55%
d. 3.55%
