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Monetary Policy Committee agreed on no rate cut

The repo rate, the rate at which banks borrow from the RBI, stayed at 6.25%

RBI

Ahead of the RBI’s December policy, the six members of the monetary policy committee (MPC), the panel tasked with the job of setting the regulator’s rates, had been unanimous that the repo rate should remain unchanged.   The repo rate, the rate at which banks borrow from the RBI, stayed at 6.25%.   In the meeting on December 6-7, the panel expressed the view that the effects of demonetisation would not last long and it was more necessary to achieve the inflation target.   The six members of the MPC are Chetan Ghate, Pami Dua, Ravindra H Dholakia (all ...