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As expected, Reserve Bank keeps the rates unchanged

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Published on 7 Jun 2016 8:07 AM GMT

As expected, Reserve Bank keeps the  rates unchanged
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New Delhi:As expected, the Reserve Bank of India (RBI) has maintained a status-quo and kept the interest rates unchanged. In simple words, it has given no relief either to the industry or to individuals.

Announcing the decision, after a monetary policy meeting, governor Raghuram Rajan, told media persons on Tuesday that the cash reserve ratio would remain at 4 per and repo rate at 6 .5 onweper cent.

Three factors could have played a role in this regard: uncertainty about monsoon, no change in Federal Reserve policy and the liquidity position. A change could be made in August when the bank holds its bi-monthly meeting.

The RBI governor has lowered interest rates by as much as 150 basis points in the last one year.

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