RBI keeps policy stance neutral; repo rate unchanged at 6.25 per cent
DSIJ Intelligence / 07 Jun 2017
Reserve Bank of India on Wednesday decided to keep the rate unchanged even as five out of six MPC members voted in favour of the decision.
Reserve Bank of India on Wednesday decided to keep the rate unchanged even as five out of six MPC members voted in favour of the decision.
The repo rate, at which RBI lends to banks was kept unchanged at 6.25 per cent.The reverse repo rate was kept unchanged at 6 per cent.
The statutory liquidity ratio was reduced to 20 per cent from 20.5 per cent earlier.
The RBI maintained a neutral stance on monetary policy and highlighted the inflation levels falling down below 4 per cent
on a durable basis.
The inflation fell to 2.99 per cent in April and led to speculation in the market that RBI may reduce the key policy rate.
The market was trading flat as the RBI took a neutral stance on its monetary policy. On an intra-day basis, Nifty50 was at 9662.80 level, up by 0.27 per cent, while BSE Sensex stood at 31266.49, up by 0.24 per cent.
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