RBI Keeps Repo Rate Unchanged at 6.5%

New Delhi: After the two-day review meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), its governor Shaktikanta Das announced that the repo would be kept unchanged at 6.5 per cent for the seventh consecutive time.

The MPC meeting concluded on Friday. Repo is the rate at which the central bank lends money to banks for the short term.

RBI governor said that the MPC favoured the status quo on interest rates by a majority vote of 5:1 while maintaining focus on withdrawal of accommodative stance.

The RBI governor announced that there will be no changes in the GDP growth forecast for FY25 and the estimate was retained at 7 per cent for the current fiscal year.

On the inflation front, the RBI MPC sees it at 4.5 per cent for FY25.