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Amid Omicron Scare, RBI Keeps Lending Rates Unchanged For 9th Time

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The Reserve Bank of India's (RBI's) Monetary Policy Committee on Wednesday maintained status quo on key interest rates as the new strain of coronavirus - Omicron - added to the economic uncertainties. The Reserve Bank kept repo rate at an all-time low of 4 per cent and the reverse repo rate at 3.35 per cent. Repo rate is the rate at which the RBI lends money to commercial banks; while reverse repo rate is the rate at which the Reserve Bank borrows from the banks.

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Category
Asia
Tags
NDTV 24x7, Reserve Bank of India, RBI
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