The Reserve Bank of India (RBI) has kept repo rate unchanged for the second consecutive time at 5.15 per cent and reverse repo rate at 4.90 per cent in its sixth bi-monthly monetary policy meet. It also decided to continue with its accommodative stance as long as it was necessary to revive growth.
Daily Current Affairs Quiz 2020
Repo rate is the rate at which the RBI lends to banks, while reverse repo rate is at which it borrows from banks. The central bank retained GDP (gross domestic product) growth at 5 per cent for 2019-20 and pegged GDP growth for 2020-21 at 6 per cent. It also anticipated inflation to remain elevated in short-run.
