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RBI keeps rate unchanged 03.02.2016 | No rate cuts in RBI monetary review

04 February, 2016

The Reserve Bank has kept short-term lending rate (repo) and CRR unchanged after Monetary policy review meeting in Mumbai.

Reserve Bank Governor Raghuram Rajan, who has attended this meeting,  said that the current economic growth is in good condition, and there is a good environment for development. As far as the rates are concerned No changes are proposed, he said.

He also said that repo rate will continue at 6.75 percent. Similarly the cash reserve ratio CRR continues to be in 4%. He has said that Inflation will be 5 per cent by the year 2017. In the current fiscal year 2016, the country's economic growth will be 7.4 percent, rising to 7.6 percent in 2017. In the future, depending on the activities carried out in the current budget would there be a change in interest rates. Housing loan borrowers who were expecting a rate cut has disappointed with the move.

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