Reserve Bank of India’s Monetary Policy Committee(MPC) today voted upon various decisions in its first post budget meet. Here are some highlights from the RBI MPC outcome:
- MPC voted unanimously to keep Repo rate, Reverse repo rate, MSF, and Bank rate unchanged.
- Inflation outturn has turned out to be better than expected. Outlook for core inflation is influenced by cost-push pressure seen in recent months, said RBI. CPI projection revised to 5.2 per cent for Q4 FY21, supported by a fall in vegetable prices and favourable base.
- FY22 GDP Growth is projected at 10.5 percent. Growth is projected in the range of 26.2 percent to 8.3 percent in H1FY22 and 6 percent in Q3FY22.
- With the beginning of vaccination drive, economic growth is heading in the positive direction and likely to pick pace, RBI said.
- Funds from TLTRO scheme will now be available to NBFCs
