MUMBAI, Dec. 11 -- The Reserve Bank of India on Friday, 4 December, pledged to retain an accommodative policy stance well into the next financial year to support a nascent economic recovery.
The central bank's monetary policy committee (MPC), however, kept the repo rate unchanged at 4%.
The committee raised its growth and inflation expectations, in a clear indication that it won't change its benchmark interest rate soon.
"The MPC decided to continue with the accommodative stance as long as necessary- at least during the current financial year and into the next financial year-to revive growth on a durable basis and mitigate the impact of covid-19 on the economy, while ensuring that inflation remains within the target going forward," RBI g...