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

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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