The Reserve Bank of India (RBI) has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent.
The reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the bank rate at 4.25 per cent.
Shakthikanta Das, Governor, RBI announced these decisions of the Monetary Policy Committee (MPC). Representatives of the apparel industry have welcomed the decision of RBI. It was first policy meeting of MPC after Union Budget 2022.
Thanking the MPC for maintaining the policy rate at the same level, Raja M. Shanmugham, President, Tirupur Exporters’ Association (TEA) has appealed to RBI Governor to extend the Interest Equalization Scheme (IES) with retrospective effect from 1 October 2021 for the benefit of MSMEs.
He added that Tirupur knitwear cluster desperately needs to enhance its competitiveness and sustain in the business.
