India’s central bank keeps interest rates untouched

Mumbai: The Reserve Bank of India (RBI) on Friday kept the repo rate unchanged for the eighth time straight and continued with an accommodative stance.

The repo rate -- the central bank's lending rate -- remains unchanged at 4 per cent and the reverse repo rate -- borrowing rate -- at 3.35 per cent. "The stance remains accommodative as long as necessary to revive and sustain growth on a durable basis, and continue to mitigate the impact of COVID-19 on the economy," RBI Governor Shaktikanta Das said.

"The worst of the second wave behind us, and substantial pickup in COVID-19 vaccination, giving greater confidence to open up and normalize economic activity," he added.