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Highlights of RBI monetary policy announcements
RBI keeps policy rate unchanged for fifth time in a row; repo at 4 pc
New Delhi
Following are the highlights of RBI's monetary policy for 2021-22:Â
RBI keeps policy rate unchanged for fifth time in a row; repo at 4 pcÂ
Economic growth projection for current fiscal retained at 10.5 pcÂ
RBI to maintain accommodative monetary policy stance to support growth, keep inflation at targeted levelÂ
Says recent surge in COVID-19 infections has created uncertainty over economic recovery, focus be on containing virus spreadÂ
Projects 26.2 pc and 8.3 pc growth in June and September quarters; 5.4 pc and 6.2 pc in December and March quarters respectivelyÂ
Retail inflation projection revised to 5 pc in March quarter 2020-21Â
Projects retail inflation at 5.2 pc in June and September quartersÂ
Gains from inflation targeting framework of 4 pc (+/- 2 pc) since 2016 reinforced by the retention of the target and the tolerance band by the government for next five yearsÂ
To ensure ample liquidity in system so that productive sectors get adequate creditÂ
Rs 50,000 crore additional liquidity facility to NABARD, NHB and SIDBI for fresh lendingÂ
Will continue to do whatever it takes to preserve stability and to insulate financial firms from global spilloversÂ
Enhances maximum balance limit at end of the day from Rs 1 lakh to Rs 2 lakh per individual customers of payments banksÂ
To set up a committee for comprehensive review of the working of Asset Reconstruction Companies (ARCs).
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