MPC has kept the policy rate unchanged at 4% and voted unanimously to maintain the status quo with an accommodative stance. The reverse repo rate remained unchanged at 3.5%, the marginal standing facility and bank rate kept unchanged at 4.25%. As expected, the RBI maintained status quo amid rising COVID-19 cases in the country. The RBI had kept the key interest rate (repo) unchanged for the fifth consecutive meeting. On the back of the COVID-19 pandemic, the central bank has cut policy rates to 4% through two rate cuts of 75 bps in March'20 and 40 bps in May'20. Growth The MPC has retained the Gross Domestic Product (GDP) growth of 10.5% for the FY22 with the global growth gradually recovering from the pandemic-triggered slowdown. As per the RBI poll result done in Mar'20, firms engaged in manufacturing, services and infrastructure are optimistic of pickup in demand and expansion in business activity in FY22.The RBI stated that the country is much...