Question: RBI’s six-member Monetary Policy Committee (MPC) , on 5th February announced the monetary policy for this qauarter.What is the current Repo Rate announced by Rbi?
a) 3.75%
b) 4%
c) 4.25%
d) None of the above
Answer: b)
Context
- The six-member Monetary Policy Committee (MPC) headed by Reserve Bank of India (RBI) Governor Shaktikanta Das has announced this quarter’s monetary policy review on 5th February.
Summery of the Review
- Repo rate unchanged at 4%.
- Reverse repo rate unchanged at 3.35%.
- Marginal standing facility (MSF) rate at 4.25%.
- Bank rate at 4.25%.
- Projected GDP growth rate at 10.5% for the financial year beginning April 1.
- It says, the inflation rate will come down to 5.2% in January-March and will decline to 4.3% by the third quarter the fiscal 2021.
By – Kameshwar Shukla
Reference: indianexpress.com/article/business/economy/rbi-reserve-bank-of-india-monetary-policy-committee-february-2021-meeting-outcome-key-announcements-7175322/