(Image source from: Twitter.com/RBI)
Reserve Bank Of India Keeps Policy Rate Unchanged:- A high profile meeting chaired by Reserve Bank of India Governor Shaktikanta Das along with the six-member Monetary Policy Committee (MPC) initiated discussions to take some key decisions on the interest rates in this slow-paced economic growth. They met for the sixth bi-monthly Monetary Policy Statement for 2019-20. RBI decided to keep the repo rate at 5.15 percent which will remain unchanged as of now. All six members of the Monetary Policy Committee are in favor of keeping the repo rate unchanged.
The Central Bank retained GDP growth at 5% for 2019-20 and it is capped at 6% for the next fiscal. "Economic activity remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner. Given the evolving growth-inflation dynamics, the MPC felt it appropriate to maintain the status quo,” the Monetary Policy Committee (MPC) said in a statement. The Reserve Bank of India reduced the repo rate by 135 basis points between February and October last year.