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

Category : Business and economics
Published on: December 08 2021 Share on facebook

  • 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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