Banking

RBI’s key lending rates on hold

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India’s central bank has ahead of the federal budget for the next fiscal, taken a crucial step by keeping its key lending rates unchanged, official sources said.

The Reserve Bank of India (RBI) kept the repo and reverse repo rates unchanged during its sixth and the fiscal’s final bi-monthly monetary policy review, as per an official statement.

The repurchase rate, or the short-term lending rate of the central bank, remains unchanged at 6.75 percent and so does the cash reserve ratio (CRR), or the liquid money banks have to compulsorily hold, at 4.00 percent.

Accordingly, the reverse repo rate, or the central bank’s short-term borrowing rate, remains at 5.75 percent.

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