RBI leaves repo rate unchanged at 4%

Mumbai: The Monetary Policy Committee of the Reserve Bank of India kept the repo rate unchanged at 4 percent for the sixth consecutive policy, maintains an accommodative stance amid uncertainty about the economic fallout of the second COVID-19 wave and rising inflation.

The reverse repo rate is also unchanged at 3.35 percent.

India's annual economic growth rate picked up in January-March compared with the previous three months, but economists are increasingly pessimistic about the June quarter after a huge second wave of COVID-19 infections hit the country last month.

The RBI unveiled fresh measures in May to help lenders tide over mounting bad loans and give some borrowers more time to repay their debts, as surging COVID-19 cases triggered strict lockdowns in several states.