RBI Monetary Policy highlights
Published On: Wednesday, April 7, 2021 | By: Team KnowMyStock
Key factors of RBI Monetary Policy: 1) RBI Governor Shaktikanta Das said the repo rate at 4 per cent in the April policy and retained its accommodative stance for as long as necessary amid rising inflation and elevated inflation. 2)The marginal standing facility (MSF) rate and the bank rate remain unchanged at 4.25 per cent. The reverse repo rate stands unchanged at 3.35 per cent. 3) Fulfilled a long-standing demand of bond market participants of having an open market operations (OMO) calendar of sorts, through which the central bank would commit its periodic support to the market. 4)MPC maintained GDP growth estimate for FY22 at 10.5%, with risks equally balanced depending on the pace of the vaccination drive. 5)The RBI extended the deadline of TLTRO on the Tap Scheme till September 30, 2021. The scheme was announced on October 9, 2020, and was made available up to March 31, 2021.
6)The RBI will also increase the scope of its variable rate reverse repo (VRRR) auctions with increased tenure.
7)On global growth, Das said that vaccine distribution and its efficacy is key to global economic recovery.
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