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What the RBI said in its latest monetary policy

Source: PTI
February 10, 2022 11:56 IST
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The Following are the highlights of the RBI's monetary policy statement 2021-22.

IMAGE: RBI governor Shaktikanta Das addresses the media, February 10, 2022. Photograph: ANI on Twitter.
 
  • Benchmark lending rate kept unchanged 10th time in a row at 4 pc, reverse repo rate at 3.35 pc
  • Projects GDP growth at 7.8 pc for next fiscal, against 9.2 pc this fiscal
  • India charting different course of recovery than rest of the world; to be fastest growing economy
  • RBI to continue with accommodative stance to revive and sustain growth; pandemic hold global economy hostage
  • Retail inflation projected at 5.3 pc for current fiscal, 4.5 pc in FY23
  • Inflation to peak in the current quarter within tolerance band, moderating in the second half of next fiscal
  • Hardening global crude oil prices present upside risk to inflation
  • Indian rupee showed resilience in the face of global spillovers
  • Current account deficit to be below 2 pc of GDP in current fiscal
  • Overall system liquidity remains in large surplus
  • RBI would continue to insulate domestic economy from global spillovers
  • RBI extends by 3 months on-tap liquidity facility of Rs 50,000 crore for healthcare, contact intensive sector
  • E RUPI digital voucher cap raised from Rs 10,000 to Rs 1 lakh and multiple-use permitted

The next meeting of the Monetary Policy Committee (MPC) is scheduled during April 6-8.

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