In today’s (08.12.2021) MPC meeting, the Reserve Bank of India decided to maintain the policy repo rate under the liquidity adjustment facility (LAF) on hold at 4.0 percent. The Monetary Policy Committee of the Reserve Bank of India has also decided to maintain the status quo on all other key policy rates.
RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting the interest rate to a historic low.
The Governor of RBI Shaktikanta Das said that the headline inflation would peak in the fourth quarter of the current fiscal. Speaking about inflation, the RBI governor said that the FY22 CPI inflation target is maintained at 5.3 percent. This consists of 5.1 percent in Q3FY22, and 5.7 percent in Q4FY22 with risks broadly balanced.
The present policy rates are as under.
| CRR (Cash Reserve Ratio) | 4.00% |
| SLR (Statutory Liquidity Ratio) | 18.00 % |
| Repo Rate | 4.00% |
| Reverse Repo Rate | 3.35% |
| MSF Rate (Marginal Standing Facility Rate) | 4.25% |
| Bank Rate | 4.25% |
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