The policy repo rate remains unchanged at 5.15 percent under the Liquidity Adjustment Facility (LAF). Consequently, the reverse repo rate under the LAF remains unchanged at 4.90 percent and the Marginal Standing Facility (MSF) rate and the Bank Rate at 5.40 per cent.
The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of plus or minus 2 per cent, while supporting growth. The six-member Monetary Policy Committee (MPC) headed by Governor Shaktikanta Das unanimously voted for a status quo.