GDP Growth Projection For FY 2021-22 Remains Unchanged At 10.5%: RBI

The Reserve Bank of India Governor Shaktikanta Das kept the GDP growth projection for FY 2021-22 unchanged at 10.5 per cent

The Reserve Bank of India Governor Shaktikanta Das kept the GDP growth projection for FY 2021-22 unchanged at 10.5 per cent. The RBI Governor made the announcement at the end of the press address, post the 3-day review meet that began on Monday. Meanwhile, the RBI Governor Shaktikanta Das has kept the key rates unchanged. The central bank kept the repo rate - the key interest rates at which the RBI lends money to commercial banks - unchanged at 4 per cent and the reverse repo rate - the rate at which RBI borrows from banks - untouched at 3.35 per cent. The RBI Governor also said the bank will continue with an accomodative stance "as long as necessary to mitigate the impact of the COVID-19 pandemic". The recent surge in Covid19 cases must be closely watched, the RBI Governor asserted.