The Reserve Bank of India (RBI) in its fifth bi-monthly Monetary Policy has kept the policy repo rate unchanged at 5.15 per cent. The six-member Monetary Policy Committee (MPC) headed by Governor Shaktikanta Das unanimously voted for a status quo policy. The reverse credit policy has also maintained the reverse repo rate at 4.90 per cent and the marginal standing facility rate and Bank Rate at 5.40 per cent.
The real GDP growth for 2019-20 has been revised downwards from 6.1 per cent in the October policy to 5.0 per cent. Interacting with Media, RBI Governor Shaktikanta Das said the decisions are in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4 per cent while supporting growth.