RBI repo rate unchanged |
The Reserve Bank of India in its bi-monthly monetary policy review announced that it will not change key rates. The repo rate will remain unchanged at 6 per cent and the reverse repo rate will remain at 5.75 per cent. The Central bank revised the growth projection down from 7.3 per cent to 6.7 per cent. The RBI changed standard liquidity ratio (SLR) by 50 basis points from 20 per cent to 19.5 per cent. SLR describes the ratio of reserve required by a commercial bank before providing creditor to creditors. The reserve has to be maintained in the form of gold, government approved securities etc. The marginal standing facility (MSF) rate and bank rate also remain unchanged at 6.25 per cent.
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