The RBI left the short-term lending rate or repo rate unchanged at 6.50 per cent, and the cash reserve ratio static at four per cent. The RBI said it continues to expect a GDP or gross domestic product growth rate of 7.6 per cent. The RBI, which has now become an 'inflation-targeting' central bank, wants to get the headline inflation number down to 5 per cent by March 2017. Mumbai, Aug 9 (PTI): Reserve Bank of India governor Raghuram Rajan, citing upside risks to the central bank's inflation target for March 2017, on Tuesday left all key rates and ratios unchanged at his last policy review meeting, as was widely expected. But he stressed that the RBI continues to be accommodative.

Source: The Telegraph August 09, 2016 06:56 UTC