About:
- Announcing the monetary policy, RBI Governor said the central bank will maintain its ‘accommodative stance’ as long as required to sustain growth on a durable basis.
- The RBI maintained its GDP growth forecast at 10.5 per cent for 2021-22.
Measures for liquidity announced
- RBI also announced a series of measures to inject liquidity in the government securities market and the financial system.
- RBI will ensure orderly conduct of government borrowing programme. In this respect, the central bank announced a secondary market government securities (G-sec) acquisition plan worth Rs 1 lakh crore for April-June.
- Amid the government plans to support a new asset reconstruction company being set up by banks, the RBI has decided to set up a committee to review the working of ARCs to ensure how better these entities can support the financial sector.
- In the policy review, the RBI decided to extend the RTGS and NEFT payments platforms to prepaid payment instruments, white label ATMs as well.
