RBI Monetary Policy HIGHLIGHTS: No repo rate cut for 5th straight MPC; maintain accommodative stance

Reserve Bank of India (RBI) has kept the policy rate unchanged at 4 per cent and voted unanimously to maintain the status quo with an accommodative stance. The reverse repo rate remained unchanged at 3.5 per cent, and the marginal standing facility and bank rate kept unchanged at 4.25 per cent. Most of the experts and analysts expected RBI to maintain status-quo amid rising COVID-19 cases in the country. It may be noted that the RBI had kept the key interest rate (repo) unchanged for the fifth consecutive meeting. “If patience is worth anything, it must endure to the end of time. And a living faith will last in the midst of the blackest storm,” RBI Governor  Shaktikanta Das said while concluding the MPC.