RBI Monetary Policy: RBI keeps repo rate unchanged; Here are the Highlights

New Delhi, Aug 06: Reserve Bank of India Governor Shaktikanta Das on Thursday called for a Monetary Policy Committee (MPC) and kept the repo rate unchanged at two-decade low of 4 per cent. All the MPC members unanimously voted for keeping the repo rate unchanged while maintaining its accommodative stance.

Here are the highlights:

a. All the MPC members unanimously voted in favour of keeping rates unchanged

b. MPC expects inflation to remain at elevated levels in July-September, and ease in second half of financial year

c. Global economic activity has remained fragile in first half of 2020

d. Reserve Bank of India's Monetary Policy Committee (MPC) led by Governor Shaktikanta Das keeps repo rate unchanged at 4 per cent

e. India's foreign exchange reserves rose by $56.8 billion so far to $534.6 billion as on July 2020

f. Inflation likely to ease in second half of current financial year

g. GDP growth expected to remain in contraction zone

h. Equity markets hold gains after RBI keeps repo rate unchanged; Sensex up 229 points at 37,892 and Nifty advances 60 points to 11,162