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Reserve Bank of India (RBI) has kept the key repo rate unchanged at 4 per cent to support growth in the current situation.

Reserve Bank of India on Wednesday expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat.

The central bank kept the benchmark repurchase rate unchanged at 4 per cent and maintained accommodative policy stance to support growth.

The financial year 2020-21 has been a roller-coaster ride for the rupee due to Covid-19. The pandemic-induced massive sell-off in the equity market led the rupee breach record low of 76.90.

National Federation of State Cooperative Banks Limited (NAFSCOB) Chairman Konduru Ravinder Rao has stressed the need to safeguard the cooperative principles and spirit and also the farming sector.

The panel did not trust the assurance given by the Special Government Pleader on behalf of the Department of Marketing.

The finance minister said the capacity of the RBI's regulatory and supervisory staff is being strengthened with specially tailored courses.

The monetary policy committee headed by the RBI Governor is set to revise the policy framework and inflation targets by March 31

Banks and non-banks must use liquidity windows and newfound demand for credit to push economic revival aggressively

The country adopted the FIT framework in 2016, and the next review of the inflation target is due before March 31, 2021

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.

With bad loans set to move to the proposed ARC, banks can turn their focus back on lending to MSMEs

The agency had earlier forecast a 7.4 per cent contraction in 2020-21 GDP numbers.

"The details are being worked out. I have made the announcement but we are working together with the RBI," she said, when asked about the proposal.

Cyberabad CP Sajjanar and officers of Hyderabad, Cyberabad and Rachakonda police commissionerates dealing with the instant loan app frauds held a coordination meeting with the RBI-appointed officials on Friday.

The government last week moved to ban private cryptocurrencies.

RBI Governor Shaktikanta Das said the growth outlook has improved significantly and the vaccination drive will help the economic rebound.

SBI, Kotak Bank, IndusInd Bank, HDFC, ONGC and Axis Bank were top gainers in the Sensex pack.

The development follows recent outage in the bank's internet banking and payment system on November 21, 2020 due to a power failure in the primary data centre.  

On a standalone basis, the country's second largest private sector lender by assets showed a 19.12 per cent rise in the post-tax profit at Rs 4,939.59 crore for the reporting quarter