RBI Monetary Policy: Repo rate unchanged, low inflation recorded in April reason for status quo
Updated:1 year, 8 months ago IST
Mumbai, June 07 (ANI): Gove or of Reserve Bank of India (RBI) Urjit Patel along with their six-member Monetary Policy Committee (MPC) addressed a press conference in the national capital and shared the repo rate has unchanged at 6.25 percent after its second bimonthly review of this financial year on Wednesday. The committee however, cut Statutory liquidity ratio (SLR) by 50 basis points to 20 percent starting June 24. He said that the decision of the Monetary Policy Committee is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of four percent within a band of +/- two percent, while supporting growth.
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