Mumbai, April 7 The Central Bank of India announced on the 7th that it would keep the repo rate unchanged at 4% and maintain a loose monetary policy position unchanged.
The Bank of India held the first bimonthly monetary policy meeting for the fiscal year (April 2021 to March 2022) from April 5 to 7, and made the above decision.
This decision is in line with market expectations. India’s retail prices are under upward pressure. However, the rapid development of the second wave of the epidemic has led to strict measures such as curfews by many local governments, and the recovering Indian economy faces greater challenges. The Bank of India maintains a loose monetary policy aimed at boosting economic growth.
In addition, the Bank of India maintains its previous economic growth forecast of 10.5% for this fiscal year.