The RBI kept the policy rate (the repo rate) unchanged at 4% while keeping the stance as accommodative.
HIGHLIGHTS OF RBI MONETARY POLICY APRIL 2021
- Reserve Bank of India keeps the repo rate unchanged for the 5th consecutive monetary policy committee.
- The reverse repo rate remained unchanged at 3.5 per cent, and the marginal standing facility and bank rate kept unchanged at 4.25 per cent.
- RBI raises Paytm, wallet accounts limit to Rs 2 lakh; allows RTGS, NEFT connectivity to payment operators
- NEFT, RGTS to be extended beyond banks. Moreover, interoperability among full-KYC PPIs has been made mandatory. And cash withdrawal by full-KYC PPIs issued by non-bank users has been allowed
- Home loans will continue to remain at attractive rates
- Loan limit under priority sector lending to agri sector raised to Rs 60 lakh from Rs.50 Lakh.
- TLTRO on-tap scheme extended by 6 months
- Liquidity support of Rs 50,000 cr to NABARD, NHB and Sidbi