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

Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections: Report
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections
'Kejriwal Ko Ashirwaad': Wife Sunita Kickstarts WhatsApp Campaign For Delhi CM
'Kejriwal Ko Ashirwaad': Wife Sunita Kickstarts WhatsApp Campaign For Delhi CM
Lok Sabha Polls 2024: JD(S) Announces Candidates For 3 Seats; HDK To Contest From Mandya
Lok Sabha Polls 2024: JD(S) Announces Candidates For 3 Seats; HDK To Contest From Mandya
Arvind Kejriwal Arrest: UN Steps In As Case Against Delhi CM Heats Up Ahead Of Lok Sabha Elections
Arvind Kejriwal Arrest: UN Steps In As Case Against Delhi CM Heats Up Ahead Of Lok Sabha Elections
Advertisement
for smartphones
and tablets

Videos

Mukhtar Ansari Death: Jailed Gangster-Politician Mukhtar Ansari Dies Of Heart Attack | ABP NewsABP Shikhar Sammelan 2024: Rajnath Singh explains the current scenario of Indo-China BorderMukhtar Ansari Death: Gangster Turned Politician Passes Away From Cardiac Arrest  | ABP NewsMukhtar Ansari Death: Akhilesh Yadav slams state govt over law & order, calls it 'govt anarchy'

Photogallery

Embed widget