"rbi-governor-shaktikanta-das"

The Reserve Bank will announce the resolution of the Monetary Policy Committee (MPC) on April 7.

The policy repo rate or the short-term lending is currently at 4 per cent, and the reverse repo rate is 3.35 per cent.

"The licensing policies for universal banks, small finance banks (SFBs) and payments banks are a step in this direction," Shaktikanta Das said.

He said the heavy fall in markets, followed by quick gains on the equity benchmarks since the onset of the pandemic is the sharpest V-shaped recovery in the last 30 years.

The meeting will be held virtually for the first time due to COVID-19 protocol, sources said.

The six-member MPC headed by RBI Governor Shaktikanta Das has started its deliberations.