The Reserve Bank of India (RBI) on Friday kept its key lending rate unchanged at 6.5% for the seventh consecutive time. The decision was taken by a 5:1 majority at the bi-monthly Monetary Policy Committee (MPC) meeting, said RBI Governor Shaktikanta Das. An unchanged repo rate means the loan interest rates too are likely to remain unchanged.
Mr Das also said that inflation is moving closer to targets. Core inflation has declined steadily over the last nine months while the fuel component remained in deflation for six straight months, he said.
