Mpc Keeps Repo Rate Unchanged; Pegs Gdp Growth At 7.8%, Says Shaktikanta Das In Speech; Sensex, Nifty Positive

RBI Monetary Policy LIVE updates: 

Reserve Bank of India (RBI) governor Shaktikanta Das-led Monetary Policy Committee (MPC) is announcing the February bi-monthly policy decision today, days after Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022. The MPC, which begain its three-day deliberations on Tuesday instead of Monday after the Maharashtra government’s decision to declare February 7 as public holiday to mourn the death of legendary singer Lata Mangeshkar. A CNBC-TV18 poll of bankers suggests that as many as 70 percent of them believe the MPC may hike reverse repo rate in today’s policy announcement.

The last MPC held in December 2021 had kept the benchmark interest rate unchanged at 4 percent and decided to continue with its accommodative stance against the backdrop of concerns over the emergence of the new coronavirus variant Omicron. The MPC has been tasked by the government to keep inflation in the range of 2-6 percent.

(Edited by : Ajay Vaishnav)

First Published: Feb 10, 2022, 08:46 AM IST