Reserve Bank Of India decided to keep the repo rate unchanged at 4 % . RBI also decided to keep the reverse repo rate at %. Repo is the rate at which RBI lends funds to commercial banks. Repo rate is a tool that RBI uses to control inflation. The reverse repo rate is the rate at which the RBI borrows from banks or you can say the rate at which commercial banks keep their deposit with RBI .
The RBI has slashed the inflation forecast for 2021-22 to 5.3 per cent from the 5.7 % estimated earlier. The RBI has retained the projection for real GDP growth at 9.5 % in 2021- 22 .
Moody’s changes rating outlook of 9 Indian banks to stable from negative. You can watch below video to know the 9 bank names . Monetary Policy details also covered under video .
While announcing monetary policy RBI also revised IMPS limit . Increase in IMPS limit is very good news for customers . Watch below Video for detail :