Mumbai: Following are the highlights of announcements made by RBI Governor Shaktikanta Das after the third bi-monthly monetary policy review by MPC on Friday:
* Monetary Policy Committee keeps key interest rate (repo) unchanged at 4 pc for 7th consecutive time;
* Consequently, reverse repo rate too remains unchanged at 3.35 pc;
* Bank rate also remains same at 4.25 pc;
* RBI to continue its accommodative stance to sustain growth amid COVID;
* Retail inflation (CPI) projection at 5.7 pc during 2021-22; may drop to 5.1 pc in Q1 of next fiscal;
* RBI retains GDP growth projection for 2021-22 at 9.5 pc;
* RBI says some high-frequency indicators looking up again during June-July;
* RBI proposes to conduct two more auctions of Rs 25,000 crore each in August under G-SAP 2.0;
* Repo rate cut by 250 bps since February 2019, reduced bank lending rate by 217 bps;
* RBI says domestic borrowing costs have eased;
* Transmission to lending rates has been stronger for MSMEs, housing and large industries;
* Significant cut in interest rates on personal housing loans and loans to commercial real estate sector augurs well for the economy;
* RBI announces additional measures on liquidity front;
* After onset of COVID pandemic, RBI says it announced over 100 measures to mitigate its impact;
* Next meeting of the MPC scheduled for October 6 to 8.
PTI
