Mumbai: The Reserve Bank of India (RBI) on Thursday said it would hold its first quarterly policy review on 28 July.
As part of its April policy review, RBI had cut its repo and reverse repo rates, or the rate at which it injects and sucks out liquidity from the system by 25 basis points each. One basis point is a hundredth of a percentage point.
Following the rate cuts, the repo and reverse repo rates are now at 4.75% and 3.25%, respectively. The rates were at 9% and 6% in September.
Bankers and economists are largely of the view that the RBI will maintain the status quo in its first quarter policy as the economy is slowly showing some signs of recovery and the various stimulus packages instituted by the RBI and the government are just beginning to have an impact.