New Delhi : The Reserve Bank of India(RBI) on Friday left the repo rate unchanged at 6.5%. for fourth time straing. Repo rate is the rate at which RBI lends short term loans to banks.
In his announcement, the RBI Governor Shaktikanta Das said the MPC(Monetary Policy Committee) voted unanimously to keep the repo rate intact even if the inflation runs high.
The growth estimate for current financial year has been marked at 6.5 percent for the fifth time. Standing Deposit Facility(SDF) and Marginal Standing Facility(MSF), set up for controlling liquidity in the market will also stay at 6.25 and 6.75 percent rates respectively, the governor said.
The Consumer Price IndiexCPI)-based inflation continues to remain above RBI curb limits. A 10 percent Incremental Cash Reserve Ratiio(ICRR) was introduced in the last meeting as part of reducing liquidity in the market.
