The Reserve Bank of India (RBI) has kept its key lending rate unchanged for the 11th consecutive time citing high inflation, and lowered the growth target for the current financial year.
The six-member Monetary Policy Committee decided to hold the repo rate at 6.5 per cent by a 4:2 majority, RBI Governor Shaktikanta Das announced this morning. An unchanged repo rate means the loan interest rates too are likely to remain unchanged.
