RBI keeps repo rate unchanged at 6.5%

December 05, 2018 14:43

RBI governor Urjit Patel holds his ground. In line with market expectation, the Reserve bank of India today maintained status quo in its latest monetary policy announcement by keeping the repo rate (the rate at which the RBI lends to banks) unchanged at 6.5 per cent. The reverse repo rate also remained the same at 6.25 per cent.

RBI Governor Urjit Patel kept the cash reserve ratio of scheduled banks unchanged at 4.0 per cent of net demand and time liability. After two successive rate hikes, the central bank had kept the key policy rates unchanged. At the last policy meeting, five out of the six monetary policy committee members voted to hold rates at existing level.

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