RBI keeps repo rate unchanged at 6%, maintains neutral policy stance
The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday kept the short-term lending rate, also known as repo rate, unchanged at 6 per cent in its fifth bi-monthly policy review of the fiscal year.
Five of six MPC members voted in favour of a status quo, the RBI statement said. MPC member Ravindra H. Dholakia had voted for a policy rate reduction of 25 basis points.
The policy rate still stands at a seven-year low. The committee had last cut the key lending rate by 25 basis points in August this year.