RBI: Spike In Covid Cases, Lockdowns Make Growth Outlook Uncertain

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC), which kept the repo rate unchanged at 4 per cent and maintained the reverse repo rate at 3.35 per cent, during its meeting held on April 7, had observed that the renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns, add uncertainty to the growth outlook.