In its first monetary policy review since the Union Budget of 2022, the Reserve Bank of India held the repo and reverse repo rates unchanged on Thursday. In 2021, the current repo rate is 4%, while the reverse repo rate is 3.35 percent. Governor Shaktikanta Das said the pandemic is holding the world economy hostage once again.
Giving a report on the pandemic, Das said that focus is shifting to a targeted containment strategy, universal vaccination, and booster doses.
Some economic activity has reported, including sales of automobiles and two-wheelers, according to the Governor, who also noted that the renewed surge in global crude oil prices must be closely monitored.
On Tuesday, the six-member Monetary Policy Committee, headed by Reserve Bank of India Governor Shaktikanta Das, started deliberations on the bi-monthly policy review and announced its review on Thursday. The meeting of the top bank was originally scheduled for February 7–9, but was deferred a day after the Maharashtra government declared February 7 a public holiday in honour of iconic singer Lata Mangeshkar’s death.
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