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RBI relief for Covid-19 pain

At the recently concluded monetary policy committee (MPC) meeting of the Reserve Bank of India (RBI)—which was rescheduled from October 1 to October 7—the members unanimously voted to keep the policy repo rate unchanged at 4%.

The six-member MPC, which includes three new members who were inducted earlier this month, also opted to continue with its accommodative stance as long as necessary to revive growth on a durable basis, and mitigate the impact of Covid-19 on the economy, while ensuring that inflation remains within the target going forward.

While the decision of the MPC, which met between October 7 and October 9, was on expected lines as far as the interest rates were concerned, the RBI did announce fresh liquidity and regulatory measures to alleviate the Covid-19-induced pain for the economy.

In his post-policy address, RBI governor Shaktikanta Das said that the Indian economy was entering a decisive phase in

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