RBI MPC Meet LIVE: This will be the third bi-monthly monetary policy review for the financial year 2021-22, at a time when the country stares at a looming threat of a third wave of the pandemic amid slow pace of vaccination coverage.
Reserve Bank of India (RBI) Governor Shaktikanta Das will announce the policy decision today, at the end of the scheduled review of the Monetary Policy Committee (MPC) that began on Wednesday, August 4, as it evaluates the economy which is in a nascent stage of recovery from the deadly second wave of the COVID-19 pandemic. This will be the third bi-monthly monetary policy review for the financial year 2021-22, at a time when the country stares at a looming threat of a third wave of the pandemic amid a slow pace of vaccination coverage.
The economy witnessed a record contraction of 7.3 per cent for the previous fiscal 2020-21, recording its worst-ever performance in over four decades. Recently, the International Monetary Fund (IMF) trimmed India’s growth projection from 12.5 per cent to 9.5 per cent for the current fiscal.
Among all countries, India witnessed the largest drop in growth projections made by IMF, even as the global economic growth rate remains the same at six per cent.
The central bank is expected to maintain the status quo on the key lending rates and maintain an accommodative stance to curtail the impact of the pandemic on the economy.
Here are all live updates from today’s RBI Governor Shaktikanta Das-led Monetary Policy Committee meeting:
