RBI keeps repo rate steady at 5.15%, pegs growth at 6% for next fiscal
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India, Feb. 6 -- The Reserve Bank of India (RBI) on Thursday kept its repo rate at which it lends to banks unchanged at 5.15% as it maintained an "accommodative stance" to revive growth amid a sagging economy and avoid adding to the already high inflation levels.
The central bank also projected a gross domestic product (GDP) growth rate of 6% for the next financial year starting April 1 and retaining the estimate for the current financial year at 5% as it said the economy continues to be weak and the output gap remains negative.
This is the second consecutive bi-monthly meeting of its Monetary Policy Committee (MPC) in this fiscal year 2019-20 in which the repo rate has been kept unchanged. RBI had in December last year kept interest ra...
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