Login With Google
RBI reiterates growth-supportive stance
Why is it in news?
- The Reserve Bank of India (RBI) would retain an accommodative policy stance into the next financial year.
Details:
- The accommodative stance to help revive growth on a durable basis.
- RBI lowered its projection for retail inflation for the current quarter.
- RBI announced that it would gradually restore the Cash Reserve Ratio to 4% in two phases by May 22 as part of a ‘normalisation process’.
- RBI estimated real GDP growth at 10.5% in 2021-22, slightly lower than the 11% projected in the Economic Survey.