The Reserve Bank of India (RBI) projected 9.5 per cent contraction in India’s GDP for the current financial year in the third bimonthly monetary policy review announced Friday.The central bank held the repo rate at 4 per cent amid confidence that the modest recovery experienced in September could strengthen in the second half of the current fiscal.The monetary policy committee (MPC) voted unanimously to keep the policy repo rate unchanged at 4 per cent and decided to continue with the accommodative stance of monetary policy, RBI Governor Shaktikanta Das said.
The Reserve Bank of India (RBI) projected 9.5 per cent contraction in India’s GDP for the current financial year in the third bimonthly monetary policy review announced Friday.The central bank held the repo rate at 4 per cent amid confidence that the modest recovery experienced in September could strengthen in the second half of the current fiscal.The monetary policy committee (MPC) voted unanimously to keep the policy repo rate unchanged at 4 per cent and decided to continue with the accommodative stance of monetary policy, RBI Governor Shaktikanta Das said.
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