RBI Monetary Policy December 2021: The Monetary Policy Commission of the Reserve Bank of India has kept the Repo Rate unchanged consecutively for the 9th time. On Wednesday, the MPC has voted to keep the repo rate unchanged as 4% said the RBI Governor Shashikant Das. In addition to this, the RBI has also kept the Reverse Repo Rate and Marginal Standing Facility(MSF) unchanged as 3.35% and 4.25%. The Central Bank of India has last revised the policy rate on May 22, 2020. The below table highlights the detailed RBI Monetary policy rate for December 2021.
|RBI Monetary Policy December 2021|
|Reverse Repo Rate||3.35%|
|Marginal Standing Facility Rate (MSF)||4.25%|
|Cash Reserve Ratio (CRR)||4%|
|Statutory Liquidity Ratio (SLR)||18%|
RBI Monetary Policy: Highlights & Key Points
- As per the RBI Monetary Policy December 2021, the projection for real GDP is kept unchanged at 9.5% for 2021-22, which consists of 6.6% in Q3 and 6% in Q4.
- The Real GDP growth is projected as 17.2% for Q1 of 2022-23 and at 7.8% for Q2 of 2022-23.
- The inflation projection is also retained at 5.3% for FY22, 5.1% for Q3, 5.7% for Q4, and 5% for Q1 FY23.
Formation of Monetary Policy Committee:
- Shri Shaktikanta Das- Governor of the Reserve Bank of India – Chairperson, ex officio.
- Dr. Michael Debabrata Patra- Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy– Member, ex officio.
- Dr. Mridul K. Saggar- One officer of the Reserve Bank of India to be nominated by the Central Board – Member, ex officio.
- Prof. Ashima Goyal- A professor at the Mumbai-based Indira Gandhi Institute of Developmental Research.
- Prof. Jayanth R Varma- A professor of finance at the Indian Institute of Management in Ahmedabad.
- Dr. Shashanka Bhide- An agricultural economist and a senior adviser with the National Council of Applied Economic Research in New Delhi.