The MPC of RBI today (August 6, 2021) voted unanimously to keep the policy repo rate unchanged at 4 percent. The MPC also decided on a 5 to 1 majority to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target, going forward. The marginal standing facility (MSF) rate and the bank rate remain unchanged at 4.25 percent. The reverse repo rate also remains unchanged at 3.35 percent.
RBI had kept the key policy rates unchanged for the sixth consecutive meeting. On the back of the COVID-19 pandemic, the central bank has cut policy rates to 4 percent through two rate cuts of 75 bps in March’20 and 40 bps in May’20.
| 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% |
Related story: Highlights of Statement on Developmental and Regulatory Policies announced on August 6, 2021
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