RBI Monetary policy: Repo rate unchanged at 4% (7 Apr 2021)

The RBI kept the policy rate (the repo rate) unchanged at 4% while keeping the stance as accommodative.

HIGHLIGHTS OF RBI MONETARY POLICY APRIL 2021

1. Reserve Bank of India keeps the repo rate unchanged for the 5th consecutive monetary policy committee.
2. The reverse repo rate remained unchanged at 3.5 per cent, and the marginal standing facility and bank rate kept unchanged at 4.25 per cent.
3. RBI raises Paytm, wallet accounts limit to Rs 2 lakh; allows RTGS, NEFT connectivity to payment operators
4. NEFT, RGTS to be extended beyond banks. Moreover, interoperability among full-KYC PPIs has been made mandatory. And cash withdrawal by full-KYC PPIs issued by non-bank users has been allowed
5. Home loans will continue to remain at attractive rates
6. Loan limit under priority sector lending to agri sector raised to Rs 60 lakh from Rs.50 Lakh.
7. TLTRO on-tap scheme extended by 6 months
8. Liquidity support of Rs 50,000 cr to NABARD, NHB and Sidbi