INSUBCONTINENT EXCLUSIVE:
kept the repo rate unchanged at 4 per cent for the 10th time in a row and continued with "accommodative" stance
continued policy support was warranted to support economic growth.The RBI chief stated that the GDP (gross domestic product) growth of 9.2
per cent in FY22 (2021-22) would take the economy above pre-pandemic level and projected 7.8 per cent growth for the next financial year
2022-23.The Reserve Bank has pegged CPI or retail inflation at 5.3 per cent for FY22 and 4.5 per cent in 2022-23
The RBI mainly factors in retail inflation while arriving at its policy decision.Further, the RBI governor said that the cap for e-RUPI
repo rate is at which it borrows from commercial lenders.RBI has held the key repo rate at record lows since May 2020 and reiterated time
and again that it will remain supportive of growth and keep its stance accommodative until economic recovery is firmly entrenched.The
Reserve has been mandated by the government to keep the inflation in the range of 2-6 per cent.The three-day meeting was delayed after
Maharashtra declared a day of mourning on February 7 following the death of legendary singer Lata Mangeshkar.Meanwhile, domestic indices BSE
and NSE have gained more than half a per cent after the RBI policy decision.
