The Reserve Bank of India's decision to keep repo rate unchanged for the seventh consecutive time has been hailed by industry and experts alike.

The Central bank’s decision to keep key interest rates unchanged and maintain an accommodative monetary policy stance will boost the confidence of businesses and consumers, India Inc said on Friday. "Continuation of an accommodative stance to revive and sustain the economic growth trajectory amid the impact of Covid-19 will boost the confidence of business and consumers. It is encouraging that RBI has retained the projection for GDP growth at 9.5 percent for FY2022 in the difficult time caused by the pandemic," PHD CCI President Sanjay Aggarwal said. Assocham said the full credit must be given to the RBI for prioritizing growth and retaining the accommodative stance on policy rates.

FICCI said the central bank's indication yet again to continue with the accommodative stance, until necessary, to revive growth is encouraging.

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