Reserve Bank Of India Keeps Repo Rate Unchanged Post Demonetisation

The Reserve Bank of India on Wednesday announced that the repo rate would remain unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. Governor Urjit Patel announced that the central bank has decided to withdraw the incremental Cash Reserve Ratio (CRR) from December 10. In its policy review, the RBI also lowered GDP growth estimate to 7.1 per cent in 2016-17 from an earlier projection of 7.6 per cent.