RBI keeps repo rate unchanged at 5.5 % for second time in a row

NEW DELHI: The Reserve Bank of India (RBI) has kept the repo rate unchanged for the second time in a row. With this, the repo rate will remain at 5.50 %. The decision of the RBI's Monetary Policy Committee (MPC) was after considering the crisis in the global trade and the reduction in GST. The new rates were announced by RBI Governor Sanjay Malhotra at the end of a three-day meeting.

The RBI had reduced the repo rate, the rate at which the central bank lends to commercial banks, by 100 basis points this year. In August, the RBI had said that it would decide on the interest rate only after considering the US tariff and India's domestic economy. The six-member panel voted unanimously to keep the repo rate at 5.50 %.