RBI governor announced bi-monthly monetary policy review for the month of December. The six-member monetary policy committee (MPC) headed by Shaktikanta Das. This is the first MPC meeting after the presentation of the Union Budget 2021-22.
On the basis of an assessment of the current and evolving macroeconomic situation, the
Monetary Policy Committee (MPC) at its meeting decided to :-
♦ India’s economy is likely to rebound with a 11 per cent growth in the next financial year
♦ MPC expects GDP growth to be at 10.5% in 2021-22. It further expects GDP to be in the range of 26.2% to 8.3% in H1 and 6% in Q3 of the coming fiscal year
♦ The RBI has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side.
♦ The RBI keeps policy repo rate unchanged at 4%.
♦ Projection for CPI inflation has been revised to 5.2% from January to March 2021 .
♦ RBI has proposed to provide funds from banks under the TLTRO on tap scheme to NBFC to specified sectors.
♦ RBI decided to extend the dispensation of enhanced HTM of 22% up to March 31, 2023.
♦ Gross market borrowing for FY22 is budgeted at Rs 12 lakh crore.
♦ Retail investors can now open gilt accounts with RBI.
♦ RBI to integrate the 3 ombudsman scheme into one.
RBI Bi-Monthly Monetary Policy: Rates
|Reverse Repo Rate||3.35%|
|Marginal Standing Facility Rate||4.25%|
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