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Saturday, December 21, 2024 | 03:58 AM ISTEN Hindi

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RBI holds interest rates steady at record lows as economic outlook improves

RBI holds interest rates steady at record lows as economic outlook improves

The Reserve Bank of India (RBI) kept its policy repo rate unchanged at 4 per cent and reverse repo rate at 3.35 per cent, and promised an accommodative stance as long as necessary to revive growth and come out of the Covid-19 induced stress. The central bank said it will restore the cash-reserve ratio (CRR) to its normal levels in two phases, 3.5 per cent (from 3 per cent now) effective March 27, and then at 4 per cent from May.

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