RBI maintains status quo, keeps repo rate unchanged at 6.50%
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The Reserve Bank of India (RBI) kept the repo interest rate unchanged at 6.50 per cent and the cash reserve ratio (CRR) was also steady at 4 per cent.
In its bi-monthlymonetary policy review, the central bank took an accommodative stance.
TheRBI stated the monsoons are critical for farms are reservoir levels plunge. RBI Goveror Raghuram Rajan also reiterated his stance of bringing the cash deficit towards neutrality.
The future CPI path was also somewhat more uncertain.
Rajan said timely capital infusion was critical and retained the gross value added growth at 7.6%
The world's fastest growing big economy is expected to benefit from good rains forecast for this year, after two successive years of drought.
READ ALSO: Weather office raises hopes for good monsoon, forecasts 106% rains
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In its bi-monthly
The
The future CPI path was also somewhat more uncertain.
Rajan said timely capital infusion was critical and retained the gross value added growth at 7.6%
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READ ALSO: Weather office raises hopes for good monsoon, forecasts 106% rains
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