Mumbai (Maharashtra) [India], October 8 (ANI): The Reserve Bank of India (RBI) on Friday kept the repo rate unchanged for the eighth time straight and continued with an accommodative stance.

The repo rate -- the central bank's lending rate -- remains unchanged at 4 per cent and the reverse repo rate -- borrowing rate -- at 3.35 per cent.

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"The stance remains accommodative as long as necessary to revive and sustain growth on a durable basis, and continue to mitigate the impact of COVID-19 on the economy," RBI Governor Shaktikanta Das said.

"The worst of the second wave behind us, and substantial pickup in COVID-19 vaccination, giving greater confidence to open up and normalize economic activity," he added. (ANI)

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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)