RBI to announce its final bi-monthly monetary policy review for the financial year 2020-21 today

The Reserve Bank of India (RBI) will announce its final bi-monthly monetary policy review for the financial year 2020-21 today. The meeting of the six-member Monetary Policy Committee headed by RBI Governor Shaktikanta Das will conclude today morning with the policy announcement scheduled for 10 am. Mr. Das is also scheduled to address a press conference at 12 noon.

RBI in a tweet on Thursday said, "Watch out for Monetary Policy statement by RBI Governor @DasShaktikanta at 10:00 am on February 05, 2021" YouTube: https://youtu.be/NoxgWQqfxiA. Post policy press conference telecast at 12:00 noon on the same day."

It may be recalled that the committee has kept the interest rates unchanged in its last three reviews, maintaining repo rate at 4 per cent and the reverse repo rate at 3.35 per cent.

The RBI had last revised its policy rate on May 22, 2020; to perk up demand by cutting interest rate to a historic low. RBI can take support from the Economic Survey which expects a rebound of the economy with an 11 per cent growth in the next fiscal.