Mumbai, Oct 9 (UNI) The Reserve Bank of India on Friday kept the repo rate unchanged at 4 per cent in its October review meeting.

While Reverse Repo was at 3.35 per cent to continue with its accommodative stance as long as necessary – “at least through the current financial year and into the next year to revive growth on a sustainable basis and to mitigate the risks of Covid-19 while ensuring that inflation remains within the target,” RBI Governor Shaktikanta Das said.

Reverse repo rate stands unchanged at 3.35 per cent.

Late on Monday, the government named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the RBI’s Monetary Policy Committee(MPC).

The new members have been appointed for a four-year term.