RBI revises real GDP growth for 2020-21 to -7.5%

December 04, 2020 10:48

The Reserve Bank of India has reviseds the real GDP growth projection for 2020-21 from -9.5% to -7.5 per cent, the Governor Shaktikanta Das said in an online briefing at the end of the meeting of the Monetary Policy Committee.

The central bank also maintained an "accommodative" stance of policy, which rules out any hikes for now and decided to continue with the current stance.

The Reserve Bank of India's Monetary Policy Committee maintained the key lending rate unchanged at 4 per cent on Friday, holding the rates at existing levels for a third straight review. The status quo on monetary policy was as expected by most economists, amid high levels of inflation and the country's shrinking gross domestic product.

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