RBI Keeps Repo Rate Unchanged At 6-Year Low Of 6.25%.
The Reserve Bank of India.
The Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25% on the basis of an assessment of the current and evolving macroeconomic situation at its meeting today.
The Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25% on the basis of an assessment of the current and evolving macroeconomic situation at its meeting today.
Consequently, the reverse repo rate under the LAF remains at 6%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.5%.
SLR has been cut by 50 bps to 20% starting June 24, 2017, whereas CRR is at 4%.
The projection of real GVA growth for 2017-18 has accordingly been revised 10 bps downwards from the April 2017 projection to 7.3%.
GDP estimates shows clear effects of note ban on economy.
RBI has put objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%.