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MPC minutes: COVID spike is biggest challenge to India's recovery, says Guv Das

Mumbai: A steep rise in COVID-19 infections across the country is the single biggest challenge to economic recovery, Reserve Bank of India Governor Shaktikanta Das wrote in his monetary policy committee (MPC) meeting minutes released on Thursday.The MPC kept its key interest rate at a record low of 4% earlier this month and said monetary policy would remain accommodative until the prospects of a sustained recovery were well secured.All six members highlighted the increased risks to economic recovery from the recent steep rise in coronavirus infections and said monetary policy must continue to support growth."Rapidly rising cases of COVID-19 is the single biggest challenge to ongoing recovery in the Indian economy.

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Mumbai: A steep rise in COVID-19 infections across the country is the single biggest challenge to economic recovery, Reserve Bank of India Governor Shaktikanta Das wrote in his monetary policy committee (MPC) meeting minutes released on Thursday.The MPC kept its key interest rate at a record low of 4% earlier this month and said monetary policy would remain accommodative until the prospects of a sustained recovery were well secured.All six members highlighted the increased risks to economic recovery from the recent steep rise in coronavirus infections and said monetary policy must continue to support growth."Rapidly rising cases of COVID-19 is the single biggest challenge to ongoing recovery in the Indian economy.
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