Kathmandu
India’s Central Bank, the Reserve Bank of India (RBI), has announced that it will keep the repo rate unchanged at 6.5 percent.
The repo rate is the rate at which the Central Bank (the Reserve Bank of India, in this case) lends money to commercial banks in the event of a shortfall of funds. This marks the 11th time that the six-member Monetary Policy Committee (MPC) has decided to keep the rate unchanged.
After assessing the current and evolving macroeconomic conditions, the meeting concluded to maintain the repo rate at 6.5 percent under the liquidity adjustment facility.
Meanwhile, real GDP growth for 2024-2025 is projected to be 6.6 percent, compared to 6.8 percent in the first quarter and 7.2 percent in the fourth quarter.