Repo rate remains unchanged at 4% for 8th consecutive year
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The Reserve Bank of India has kept the repo rate unchanged at 4% for the 8th time in a row, said Governor Shaktikanta Das while announcing the new monetary policy on Wednesday. The reverse repo rate was also kept unchanged at 3.35 percent, a step that the RBI governor said was necessary for keeping a check on inflation. "Recovery of the Indian economy is gaining traction and it's in better shape than last MPC meeting," Mr. Das said.