RBI’s Monetary Policy Committee Decisions

Current Context: The Reserve Bank of India’s (RBI) fourth bi-monthly policy meet for FY 2021-22 took place.

• It was headed by RBI Governor Shaktikanta Das and he has maintained the status quo.
• As per the MPC meeting, the repo rate was unchanged i.e. it is at 4%.
• The reverse repo rate was unchanged i.e. it is at 3.35%.
• The Marginal Standing Facility Rate is at 4.25%.
• The Bank rate is at 4.25%.
• The CRR is at 4% and the SLR is at 18%.
• As per the MPC Committee, the GDP growth forecast for FY22 is at 9.5%.
• The on-tap TLTRO scheme deadline was extended to 31st Dec 2021.
• Members of MPC Committee: Shaktikanta Das, Dr. Michael Debabrata Patra, Dr. Mridul K. Saggar, Dr. Shashanka Bhide, Prof Ashmia Goyal, and Prof Jayanth R Varma.

Question: 

Q.1 What is the current Bank rate?
a. 4.25%
b. 4%
c. 3.35%
d. 3.25%