Debt fund managers are cheering RBI's announcement in Monetary Policy announcement made on Friday. RBI kept the repo rate, the benchmark at which RBI lends to banks, unchanged at 4%. The reverse repo rate will continue to be 3.35%. "The MPC also decided to continue with the accommodative stance as long as necessary – at least during the current financial year and into the next financial year – to revive growth on a durable basis and mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward," said RBI Governor Shaktikanta Das.
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