RBI Monetary Committee Keeps Repo Rate At 4%; Expects Economic Recovery by Q4

The RBI Monetary Planning Committee has decided to continue the repo rate of 4%. RBI Governor ShaktiDas on October 9 said that the Indian economy was entering a "decisive phase" due to the pandemic. He added that owing to the pandemic, a economic contraction of 9.5% for the fiscal year is expected and opined that the economy would see positive growth by the fourth quarter of this fiscal year.