New Delhi, 08 April 2022

As per news report of The Indian Express, However, the RBI introduced the Standing Deposit Facility (SDF) – an additional tool for absorbing liquidity – at an interest rate of 3.75 per cent. The central bank retained its accommodative policy stance but hinted that it will be less accommodative in the wake of elevated inflation levels. The policy panel slashed the GDP growth to 7.2 per cent and hiked the inflation forecast at 5.7 per cent for the fiscal 2022-23. These are the key takeaways from the MPC meeting. The RBI decision to keep Repo rates unchanged at 4 per cent will help banks to keep interest rates in the financial system unchanged, aiding growth in the economy. Borrowers won’t have to shell out more on EMIs and loan repayments at least for the time being.

Source - The Indian Express

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