RBI keeps repo rate unchanged at 6.5%

Reserve Bank of India
Reserve Bank of India (RBI)

New Delhi, Dec 5: The monetary policy committee of Reserve Bank of India (RBI) on Wednesday kept its repo rate unchanged at 6.5 per cent for the second time in succession.

Besides this, Reverse repo rate and Bank rate also kept unchanged at 6.25 per cent and 6.75 per cent respectively.

The central bank also made no changes to its stance of “calibrated tightening” adopted in the policy review of October India’s central bank keeps key lending rate intact at 6.5 per cent.

The Gross Domestic Production projection for 2019-20 is at 7.4% while Inflation projection of second half of 2018-19 is 2.7-3.2 per cent.

In view of the surge in digital transactions, the Committee has decided on the implementation of an ombudsman for digital transactions, this will be notified by the end of January 2019.

WeForNews 

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