RBI maintains status quo in its Monetary Policy, leaves repo rate unchanged at 4%
The six-member MPC, headed by the RBI Governor Shaktikanta Das announceed its decision on Thursday August 6. The RBI has refrained from cutting the benchmark lending rate, leaving the rate unchanged at 4 percent. This is the 24th meeting of the MPC. In its last Monetary Policy on May 22, the Reserve Bank of India unexpectedly slashed the repo rate by 40 bps to 4%. The reverse repo rate was also reduced by 40 basis points to 3.35%.