Growth Chasing: RBI retains rates, accommodative stance

To continue with its growth supporting stance, the Reserve Bank of India retained its key short-term lending rates during the third monetary policy review of FY22.

Besides, the growth-oriented accommodative stance was retained to give a push to economic activity despite high retail inflation levels.

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Accordingly, the Monetary Policy Committee (MPC) of the central bank voted to maintain the repo rate, or short-term lending rate, for commercial banks at 4 per cent.

Likewise, the reverse repo rate was kept unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and the 'Bank Rate' at 4.25 per cent.

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It was widely expected that MPC would hold rates and the accommodative stance.