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

• 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