Quick Summary
The Monetary Policy Committee (MPC) met on 5th, 6th and 7th April, 2021 and deliberated on current and evolving macroeconomic and financial developments, both domestic and global. The MPC voted unanimously to leave the policy repo rate unchanged at 4 per cent. It also unanimously decided to continue
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FAQ :
The projection for real GDP growth for 2021-22 has been retained at 10.5%.
The Monetary Policy Committee voted unanimously to leave the policy repo rate unchanged at 4 per cent.
The MPC decided to continue with the accommodative stance as long as necessary to sustain growth on a durable basis and mitigate the impact of COVID-19.
The recent surge in COVID-19 infections and tightening of restrictions by some state governments add uncertainty. Increased international commodity prices and global financial market volatility also present downside risks.
The RBI is extending the TLTRO on Tap Scheme, providing liquidity support to All India Financial Institutions, increasing the balance limit for Payments Banks, and proposing a committee to review Asset Reconstruction Companies.
G-SAP 1.0 is a Secondary Market G-Sec Acquisition Programme where the RBI commits upfront to open market purchases of government securities to ensure a stable and orderly evolution of the yield curve.
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