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RBI Keeps Repo Rate Unchanged, Downgrades Growth Forecast To 6.7% | Read

PUBLISHED ON: October 4, 2017 | Duration: 2 min, 17 sec

   
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The Reserve Bank of India (RBI) kept its policy rate unchanged at a near seven-year low of 6 per cent on Wednesday, despite a sharp slowdown in economic growth, after a surge in consumer inflation to a five-month high. The central bank has also cut its growth forecast for the year. "The projection of real GVA growth for 2017-18 has been revised down to 6.7 per cent from the August 2017 projection of 7.3 per cent," the RBI said in a statement.
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