Explorer

RBI keeps repo rate unchanged at 6.25 percent

New Delhi: The Reserve Bank of India on Wednesday announced keeping its key policy rate or the repo rate unchanged at 6.25 percent for the second time in a row with reverse repo rate, marginal standing facility rate and the bank rate unchanged respectively. The six members of the Monetary Policy Committee (MPC) voted in favour of holding rates amid hopes that the central bank will lower borrowing costs given the surge in bank deposits and slower pace of economic growth followed by the shocking demonetisation. The Consumer Price Index (CPI) based inflation was under control in the month of November and December last year two key months during which the demonetization impact led to reduced consumption. It said that the consumer prices cooled to 3.63 percent in November, and slipped further down to 3.41 percent in the following month, which is line with RBI's target of inflation at five percent by March 2017 and government's target of around four percent, with a band of two percent on either side in the next four years. The six members of Monetary Policy Committee (MPC) headed by  RBI Governor  Urjit Patel met for two days on Tuesday and Wednesday before the announcement of the sixth bi-monthly and last policy for the year 2016-17 and the third by the MPC.
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

Ukraine Talks Zelenskyy’s Peace Formula Implementation, India Remains Silent
Ukraine Talks Zelenskyy’s Peace Formula Implementation, India Remains Silent
'Have To Save Our Families': PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
After I-T Mounts Heat On Cong, Rahul Hurls 'Tax Terrorism' Charge At BJP, Vows 'Exemplary Action'
After I-T Mounts Heat On Cong, Rahul Hurls 'Tax Terrorism' Charge At BJP, Vows 'Exemplary Action'
It's Kejriwal Today, Govt Will Jail Mamata, Stalin, Vijayan Tomorrow: Delhi Minister Atishi At ABP Shikhar Sammelan
It's Kejriwal Today, Govt Will Jail Mamata, Stalin, Vijayan Tomorrow: Delhi Minister Atishi
Advertisement
for smartphones
and tablets

Videos

Emotional Yet Fun Video Featuring Kapil Sharma, Tabu & Rhea Kapoor, Sharma To Star In 'Crew'ABP Shikhar Sammelan 2024: Anurag Thakur's counterattack to opposition over electoral bondsABP Shikhar Sammelan 2024: Why did BJP canceled tickets of more than 100 sitting MP's?|Anurag ThakurABP Shikhar Sammelan 2024: Anurag Thakur's gets angry on TMC-Congress over remarks on Kangana Ranaut

Photogallery

Embed widget