RBI retained GDP growth projection at 7.4 per cent for financial year 2018-19 The Reserve Bank of India (RBI) on Wednesday kept the repo rate steady, meeting economists' projections.
The repo rate, or the key interest rate at which the central bank lends short-term funds to commercial banks, stood at 6.5 per cent, said the RBI's fifth bi-monthly policy statement for 2018-19.
Wednesday's decision came days after official data showed that gross domestic product (GDP) growth had slowed down to 7.1 per cent in July-September from a more than two-year high of 8.2 per cent in the previous quarter.
The RBI retained the GDP growth projection at 7.4 per cent for financial year 2018-19.
The central bank has so far raised the repo rate twice this year.