Mumbai- Following are the highlights of the RBI’s bi-monthly monetary policy announced by Governor Shaktikanta Das:
* RBI keeps short-term lending rate (repo) at 4 pc for 9th time in a row; retains accommodative policy stance
* Retains reverse repo rate at 3.35 pc, marginal standing facility rate at 4.25 pc
* Keeps GDP growth projection unchanged at 9.5 pc for FY22; with 6.6 pc in Q3, 6 pc in Q4
* Projects real GDP growth at 17.2 pc for the first quarter of 2022-23
* Says Indian economy relatively well-positioned on the recovery path
* Expects retail inflation to be at 5.3 pc for 2021-22
* Says tax cuts on petrol, diesel to bring about a durable reduction in inflation
* Eases norms for banks to infuse capital in overseas branches, repatriate profits
* Proposes to review charges levied on customers for digital payments
* Seeks to increase transactions through UPI
* Next Monetary Policy Committee meeting on February 7-9, 2022.
