The Reserve Bank of India (RBI) on Wednesday chose caution over action, extending its pause on interest rates for a fourth consecutive policy meeting as policymakers concluded that the recent rise in inflation is not yet broad-based and the global environment remains too uncertain to warrant a policy shift.
The six-member Monetary Policy Committee (MPC), chaired by RBI Governor Sanjay Malhotra, unanimously kept the benchmark repo rate unchanged at 5.25% and retained its neutral policy stance. The Standing Deposit Facility (SDF) rate remains at 5%, while the Marginal Standing Facility (MSF) rate and Bank Rate stay at 5.5%.
