RBI keeps Repo rate steady at 6.50%

Not belying the expectations of senior economists, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) retained the repo rate at 6.50 per cent.

The repo rate is the rate at which the RBI lends to commercial banks.Announcing the MPC majority decision, RBI Governor Shaktikanta Das said on Friday that the repo rate has been retained at 6.5 per cent.

Consequently, the Standing Deposit Rate (SDF) will be 6.25 per cent, and Marginal Standing Facility and the Bank Rate will be 6.75 per cent, Das said.

The MPC met on April 3-5.