NEW DELHI, Apr 6 (NNN-PTI) – The Reserve Bank of India (RBI), today announced, it has kept the repo rate unchanged at 6.5 percent.
Repo rate, or policy repo rate, is the rate at which the central bank lends money to commercial banks in the event of a shortfall of funds.
The standing deposit facility (SDF) rate remains unchanged at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent.
According to the RBI, these decisions are in consonance with the objective of achieving the medium-term target for consumer price index inflation of four percent within a band of plus/minus two percent.
Meanwhile, the real GDP growth for 2023-24 is projected at 6.5 percent, and retail inflation is projected at 5.2 percent for 2023-24.– NNN-PTI
