Amid Omicron Scare, RBI Keeps Lending Rates Unchanged For 9th Time | Read
The Reserve Bank of India's (RBI's) Monetary Policy Committee on Wednesday maintained status quo on key interest rates as the new strain of coronavirus - Omicron - added to the economic uncertainties. The Reserve Bank kept repo rate at an all-time low of 4 per cent and the reverse repo rate at 3.35 per cent. Repo rate is the rate at which the RBI lends money to commercial banks; while reverse repo rate is the rate at which the Reserve Bank borrows from the banks.
