The Reserve Bank of India (RBI) Governor Shaktikanta Das-headed monetary policy committee (MPC) on Thursday maintained status quo on policy rates in its fifth bi-monthly monetary policy review of the financial year.
This halt came after five consecutive cuts. The short-term lending rate, or repo rate, was unchanged at 5.15 per cent. All six committee members voted against the rate cut.
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The RBI said its monetary stance will remain accommodative as long as it necessary. The central bank raised October-March CPI projection from 4.7 per cent to 5.1 per cent.
FY20 real GDP growth projection cut to 5 per cent from 6.1 per cent.
Source: Economic Times
