RBI Keeps Key Rates Unchanged, Says Recovery "Uncertainty" Due To Covid

Reserve Bank of India Governor Shaktikanta Das has kept the key rates unchanged, amid a surge in Covid-19 cases and imposition of fresh restrictions to curb the virus. The central bank kept the repo rate - the key interest rates at which the RBI lends money to commercial banks - unchanged at 4 per cent and the reverse repo rate - the rate at which RBI borrows from banks - untouched at 3.35 per cent. The RBI Governor also said the bank will continue with an accomodative stance "as long as necessary to mitigate the impact of the COVID-19 pandemic".

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