RBI keeps interest rates unchanged after policy meet

The Reserve Bank of India on Wednesday decided to keep interest rates unchanged, as expected by a majority of economists. Thus, the repo rate remains at 6% and the reverse repo rate at 5.75%. The repo rate is the rate at which the RBI provides funds to banks.

After its monetary policy meet, the central bank said that the decision to keep rates unchanged



was made with the objective to keep consumer price index inflation in check. India’s consumer price inflation rose to 3.58% in October, the highest in seven months, data released by the Central Statistics Office on November 13 showed. The consumer price index reflects the change in prices of goods bought and sold on the retail market.