RBI keeps rates unchanged

Mumbai Dec 6: The Reserve Bank of India (RBI) on Wednesday had conducted it fifth bi-monthly policy review of the fiscal year and the bank has announced that the short-term lending rate, also known as repo rate, unchanged at 6 percent.

The RBI has also projected the Growth rate for the 2018 as 6.7 % and said that risks are evenly balanced.

The reverse repo rate has also been maintained at the same rate of 5.75 percent and marginal standing facility (MSF) rate and the Bank Rate at 6.25 percent.

The bank in its earlier review meeting in October has cut the repo rate by 25 basis points and urged the banks to cut the interest rates.

Experts have said that Rise in Inflation, increase in crude oil prices and reduction in GST rates have prevented the RBI to reduce the lending rates.

The RBI has also projected that inflation would remain in the range of 4.3-4.7 %.