RBI keeps Repo Rate unchanged at 6.25 %, increases Reverse Repo Rate to 6%.
Announcing its first bi-monthly monetary policy statement for 2017-18 today, the RBI kept GVA (Gross Value Added) (projected) growth at 7.4% in 2017-18 as compared to 6.7% in 2016-17. MSF (Marginal Standing Facility) and the bank rate is 6.50, says RBI.
RBI today announce its first bi-monthly monetary policy review of the new financial year. The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, began its 2-day meeting yesterday, with experts saying that the bank is likely to hold the rates in view of hardening inflation.