On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent.
Consequently, the Reverse Repo Rate (RRR) under the LAF remains at 5.75 per cent, and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.25 per cent. The projection of real Gross Value Added (GVA) growth for 2017-18 has been revised down to 6.7 per cent from the August 2017 projection of 7.3 per cent, with risks evenly balanced.
Important Takeaways from Above News-
- Dr. Urjit Patel is the 24th Governor of RBI.
- RBI Headquarters in Mumbai.