Team Blitz India
NEW DELHI: The Reserve Bank of India (RBI) has decided to keep the policy repo rateunchanged at 6.5 per cent as retail inflation continues to be above its target of 4 per cent.
This is the seventh consecutive meeting that the RBI has maintained a status quo on the repo rate. The repo rate, is the interest rate at which banks draw funds from RBIto overcome short-term liquidity mismatches.
“This is the first monetary policy statement of the current financial year 2024-25,” said RBI Governor Shaktikanta Das. “It was decided by a majority of 5:1 to keep the interest rate unchanged at 6.50 per cent. Consquently the Standing Deposit Facility, the SDF rate remains at 6.25 per cent. Marginal Standing Facility (MSF) rate and the bank remain at 6.75 per cent,” said Das.
