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RBI Keeps Rate Steady Despite Lowering Growth Target
RBI kept rates unchanged in its first policy review after demonetisation Economists had expected a 0.25 per cent rate cut to support the economy Acknowledging the threat to economic growth, RBI has cut its GDP forecast
08 Dec 2016, 08:30 AM IST 
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All six monetary policy committee members, led by RBI chief Urjit Patel, voted for no change in rates.
The Reserve Bank of India (RBI) has kept its repo rate unchanged at 6.25 per cent in its first monetary policy review after the notes ban, surprising the street. Economists polled by NDTV Profit had expected a 0.25 per cent rate cut to support the economy, after the government's notes ban has threatened to hit nearly every aspect of it from consumers to supply chains.
Acknowledging the threat to economic growth from notes ban, the R...
