India takes a different recovery route from world, RBI Governor Shaktikanta Das says; country to be fastest growing economy

RBI Monetary Policy Feb 2022 Announcement: The Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that India is charting a different course of recovery than the rest of the world to become the fastest-growing economy. The Governor said so while announcing the key policy rates.

The RBI's rate-setting panel began its three-day deliberations on Tuesday to decide the next monetary policy in the backdrop of Budget 2022-23, inflationary concerns, and evolving geopolitical situation.

"India is charting a different course of recovery from rest of the world. India poised to grow at fastest pace year-on-year among major economies as per projections by IMF. This recovery is supported by large scale vaccination & sustained fiscal & monetary support: RBI Governor," the Governor said in his speech.

The committee decides to keep  the  policy  repo  rate  under  the  liquidity  adjustment  facility  (LAF)  unchanged at 4.0 percent. While the reverse repo rate under the LAF remains unchanged at 3.35 percent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 percent.