Key Lending Rate Kept Unchanged At 6.5% by RBI For 6th Straight Time

Mumbai: The Reserve Bank of India (RBI) kept its key lending rate unchanged for a sixth straight time.

The six-member monetary policy committee, consisting of three RBI and three external members, left the key repo rate unchanged at 6.50% after having raised it by 250 basis points between May 2022 and February 2023. Five out of six members voted in favour of the rate decision.

The inflation stayed above the 4% medium-term target while economic growth continued to be resilient.

Monetary policy must continue to be actively disinflationary, RBI Governor Shaktikanta Das said in his statement.