RBI keeps repo rate unchanged at 6.25%, lowers FY18 GDP projection to 7.3%

Statutory liquidity ratio was cut by 50 basis points to 20 per cent starting June 24

The Reserve Bank of India kept the repo rate and reverse repo rate unchanged at 6.25 per cent and six per cent, respectively, at Wednesday's monetary policy review, keeping in line with what analysts and experts had forecast. 

Statutory liquidity ratio (SLR) was cut by 50 basis points to 20 per cent starting June 24, in order to provide more liquidity to banks. 

The RBI cut the economic growth projection to 7.3 per cent for the current financial year from 7.4 per cent earlier.

The central bank's decision to leave the repo rate at a 6-1/2 year low