The Reserve Bank of India (RBI) kept its key policy rates unchanged on Friday, for the sixth consecutive time. Repo rate and the reverse repo rates remain unchanged at 4 per cent and 3.35 per cent respectively, RBI governor Shaktikanta Das said in Mumbai after a three-day meeting of the regulator's Monetary Policy Committee (MPC).
MPC, which is the RBI's rate-setting panel, began its three-day deliberations on the monetary policy on June 1.
The RBI's annual report, released last month, said that "the conduct of monetary policy in 2021-22 would be guided by evolving macroeconomic conditions, with a bias to remain supportive of growth till it gains traction on a durable basis while ensuring that inflation remains within the target".
The report added that the central bank would ensure that system-level liquidity remains comfortable during 2021-22 is alignment with the stance of monetary policy, and monetary transmission continues unimpeded while maintaining financial stability.
The Indian economy rose by 1.6% in the January-March quarter from the previous year but witnessed a contraction of 7.3% for the entire fiscal year, its worst in more than 40 years.