In its 4th Bi-monthly Monetary Policy Committee meeting, the Reserve Bank of India has reduced the policy repo rate by 25 basis points (bps). The MPC has also decided to maintain the accommodative stance of monetary policy. The main decisions taken in the 4th Bi-monthly Monetary Policy Committee meeting are:
- The repo rate under the liquidity adjustment facility (LAF) was reduced from 5.40% to 5.15%.
- The reverse repo rate under the LAF stands revised to 4.90%.
- The marginal standing facility (MSF) rate and the Bank Rate is revised to 5.40%.
- RBI has also reduced the real GDP growth for 2019-20 from 6.9% to 6.1%.
Static/Current Takeaways Important For IBPS RRB PO/Clerk Mains:
- Governor of RBI: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.
Source: The Reserve Bank of India