Growth-oriented: RBI retains lending rates, accommodative stance

Mumbai: The Reserve Bank of India (RBI) on Friday retained its key short-term lending rates along with a growth-oriented accommodative stance during the second monetary policy review for FY12.

Accordingly, the central bank’s Monetary Policy Committee (MPC) voted to keep the repo rate, or short-term lending rate, for commercial banks at 4 per cent.

Read also: RBI to transfer Rs 99,122 crore as surplus to the Center

Similarly, the reverse repo rate was kept unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the ‘Bank Rate’ at 4.25 per cent.

It was widely expected that the MPC would continue with rates and an accommodative stance.

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