Reserve Bank to announce its bi-monthly monetary policy today

The Reserve bank of India will announce its fourth bi-monthly monetary policy today. RBI governor Shaktikanta Das will announce Monetary policy at 10am.

The three-day meeting of the Monetary Policy Committee began on Monday. If RBI maintains status quo in policy rates today it would be the ninth consecutive time since the rate remains unchanged.

The central bank had last revised the policy rates on May 22, 2020. Industry players are also expecting the rates to remain unchanged.

Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser of State Bank of India has said that the forthcoming monetary policy comes against the backdrop of the global scare of Omicron, that we are still trying to unravel.

YS Chakravarti, MD & CEO of  Shriram City has said that they are expecting RBI to maintain status quo in the last monetary policy meet for the year 2021.

He further said that in an attempt to support economic recovery, the RBI and the government have been pushing to drive credit growth, aided also by lower rates on home and vehicle loans, and we believe this thrust will continue.