(ET)
The Reserve Bank of India Governor Shaktikanta Das announced that the Monetary Policy Committee had opted to keep the rates unchanged in its latest meet. The committee voted with a 5:1 majority to maintain an ‘accommodative’ stance to revive and sustain growth on a durable basis. The reverse repo rate has remained unchanged at 3.35%. Marginal Standing Facility (MSF) & bank rate too have remained unchanged, at 4.25%.
“The prospects of economic activity are steadily improving. Given the slack in private consumption, continued support is required for a durable recovery,” Das said. “Crude oil prices softening in November would alleviate domestic cost-push build-up. The recent reduction in taxes on petrol, diesel prices should support consumption demand,” he added.
