Quick Summary
Monetary Policy Statement, 2020-21 Resolution of the Monetary Policy Committee (MPC) October 7-9, 2020 On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (October 9, 2020) decided to: Keep the policy repo
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FAQ :
The committee decided to keep the policy repo rate unchanged at 4.0 per cent.
The reverse repo rate remains unchanged at 3.35 per cent.
The RBI has decided to continue with an accommodative stance as long as necessary, at least during the current financial year and into the next financial year.
The main objective is to revive growth on a durable basis and mitigate the impact of COVID-19 on the economy, while ensuring inflation remains within the target.
Real GDP growth for 2020-21 is expected to be negative at (-)9.5 per cent.
The minutes of the MPC's meeting will be published by October 23, 2020.
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