Key takeaways from RBI's monetary policy

The Reserve Bank of India's monetary policy committee (MPC) stuck to its accommodative policy stance to help the economy recover from the pits of the pandemic, keeping the key lending rate at record lows on Thursday. Following are the highlights of the RBI's monetary policy statement 2021-22.

* Benchmark lending rate kept unchanged 10th time in a row at 4%, reverse repo rate at 3.35%

* Projects GDP growth at 7.8% for next fiscal, against 9.2% this fiscal

* India charting different course of recovery than rest of the world; to be fastest growing economy

* RBI to continue with accommodative stance to revive and sustain growth; pandemic hold global economy hostage

* Retail inflation projected at 5.3% for current fiscal, 4.5% in FY23

Also read: RBI decides to support nascent economic recovery, keeps key rates unchanged

* Inflation to peak in the current quarter within tolerance band, moderating in the second half of next fiscal

* Hardening global crude oil prices present upside risk to inflation

* Indian rupee showed resilience in the face of global spillovers

* Current account deficit to be below 2% of GDP in current fiscal

* Overall system liquidity remains in large surplus

* RBI would continue to insulate domestic economy from global spillovers

* RBI extends by 3 months on-tap liquidity facility of Rs 50,000 crore for healthcare, contact intensive sector

* E RUPI digital voucher cap raised from Rs 10,000 to Rs 1 lakh and multiple-use permitted

* Next meeting of the Monetary Policy Committee (MPC) is scheduled during April 6-8.

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