RBI keeps Repo Rate unchanged at 6.50%
New Delhi, Oct 5: Amid volatile economic situation due to falling Rupee, the Reserve Bank of India (RBI) on Friday kept the repo rate unchanged at 6.5 per cent.
The six-member monetary policy committee (MPC) today announced the fourth bi-monthly policy statement for fiscal 2018-19. The RBI retained GDP growth estimate at 7.4 percent for fiscal year ending in March 2019.
"Depreciation of Rupee against US Dollar has been comparatively moderate in comparison to currencies of other EMEs (emerging markets economies)," said RBI Governor Urjit Patel during the monetary policy announcement.
According the reports, experts had expected the RBI to hike the repo rate by 25 basis points or by 0.25 per cent.
The following are the highlights of the fourth bi-monthly monetary statement for 2018-19: