RBI keeps repo rate unchanged at 6.5%
The Dollar Business Bureau In line with the industries’ earlier projections, the Reserve Bank of India (RBI) has kept the key interest rates unchanged, leaving the repo rate, also referred as repurchase rate, at 6.5% and the cash reserve ratio (CRR) of scheduled banks at 4.0%. The Indian banking body, in its second bi-monthly Monetary Policy Statement for the financial year 2016-17, said the decision to maintain the status quo on key rates was taken against the backdrop of current and evolving macroeconomic situation. “Consequently, the reverse repo rate under the LAF will remain unchanged at 6.0%, and the marginal standing facility (MSF) rate and the Bank Rate at 7.0%,” RBI said in its announcement. RBI further said a slight increase in inflation, which ...
RBI maintains status quo on key interest rates
RBI Governor Raghuram Rajan said the government was in the process of determining the base rate and it will be announced later this week' The Dollar Business Bureau RBI is set to bring down inflation to 6% by January next year and aims to further reduce it to 5% by March 2017 The Reserve Bank of India (RBI) on Monday decided to keep key interest rates unchanged in the backdrop of current and evolving macroeconomic situation. Following the announcement, the CRR (cash reserve ratio) remains unchanged at 4% while the repo rate remains unaltered at 6.75%. The reverse repo rate under the LAF will remain unchanged at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 7.75%, RBI said in ...
