"it is appropriate for the Reserve Bank to keep the policy repo rate unchanged at this juncture, while awaiting space for policy action. The Reserve Bank of India on Tuesday kept the repo rate or the key policy rate unchanged at 6.5% due to hardening of inflation. The reverse repo rate under the LAF will remain unchanged at 6.0 per cent, and MSF rate and the Bank Rate at 7.0 per cent. Mr. Rajan said he hopes the next policy would be conducted under monetary policy committee. The stance of monetary policy remains accommodative and will continue to emphasise the adequate provision of liquidity," RBI said.

Source: The Hindu August 09, 2016 05:34 UTC