Mumbai: The Reserve Bank of India's Monetary Policy Committee (MPC) on Friday announced to keep the Repo Rate unchanged at 6.5.
GDP growth forecast
However, it lowered the GDP growth forecast to 6.6 per cent for the current fiscal from 7.2 per cent.
Repo Rate
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The rate, at which the central bank lends money to banks, was remained unchanged for the 11th time in a row.
RBI Governor on Repo Rate
RBI Governor Shaktikanta Das said the MPC has decided to keep the repo rate unchanged at 6.5 per cent while keeping policy stance unchanged at neutral.
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He added that the decision to maintain the rate unchanged was driven by ongoing concerns over inflation, particularly food inflation, which has yet to show signs of stabilising. (With Agency Inputs)
