RBI keeps the repo rate unchanged at 4% for the ninth time

RBI keeps the repo rate unchanged at 4% for the ninth time

Daily Current Affairs / RBI keeps the repo rate unchanged at 4% for the ninth time

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Category : Business and economics Published on: December 08 2021

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The Reserve Bank of India maintained its benchmark repo rate of 4% and the reverse repo rate of 3.35%.
The central bank has kept the status quo for the ninth time in a row.
The repo rate is the interest rate at which the central bank lends to its customers in exchange for government securities.
In contrast, the reverse repo rate allows banks to deposit funds with the central bank and earn interest on them.
The central bank also maintained its 9.5 percent growth forecast for the fiscal year 2021-'22.

Important takeaways

About RBI

Governor: Shaktikanta Das
Headquarters: Mumbai
Founded: 1 April 1935
Nationalization of Reserve Bank of India (RBI): 1949
First Headquarters of Reserve Bank of India (RBI): Kolkata
Headquarters of Reserve Bank of India (RBI) moved to Mumbai: 1937
First Governor of RBI: Sir Osborne Smith

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