Mumbai: The Reserve Bank of India (RBI) maintained its primary lending rate on Thursday for the sixth consecutive meeting, aligning with expectations. This decision comes as inflation remains above the 4% medium-term target, while economic growth shows resilience.
The monetary policy committee, comprising three RBI members and three external members, opted to keep the key repo rate steady at 6.50%. This follows a series of increases totaling 250 basis points between May 2022 and February 2023.
RBI Governor Shaktikanta Das emphasized the need for the monetary policy to actively pursue disinflation, as stated in his announcement.
Five out of six members voted in favour of the rate decision.