RBI keeps repo rate unchanged at 6%, cuts growth forecast to 6.7%

At its previous meeting in August, the RBI had lowered the repo rate by 25 basis points to a seven-year low of 6 per cent.

The six-member monetary policy committee (MPC) has kept repo rate unchanged at 6 per cent.
 
At its previous meeting in August, the RBI had lowered the repo rate by 25 basis points to a seven-year low of 6 per cent.
 
The move is in line with the expectations of financial experts.
 
The reverse repo rate was maintained at 5.75 per cent. 
 
The Committee, headed by Governor Urjit Patel, kept cash reserve ratio (CRR) unchanged at 4 per cent.
 
However, it slashed the statutory liquidity ratio (SLR) requirement by 50 basis points to 19.5 per cent. 
 
The projection of real GVA growth for 2017-18 has been revised down to 6.7 per cent from the August 2017 projection of 7.3 per cent.

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