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RBI keeps rates on hold, moves to spur lending

Reuters  |  MUMBAI 

By Swati Bhat and Suvashree ChoudhuryMUMBAI (Reuters) - The Reserve Bank of India (RBI) kept interest rates unchanged on Wednesday, in a decision that was widely expected as inflation has eased significantly, while it took steps to persuade banks to lend more in order to support an economy that has lost some momentum."The time is apposite to further strengthen domestic macro-economic fundamentals," the Reserve Bank of India said in a statement following a monetary policy committee (MPC) meeting.The decision to keep the repo rate unchanged at 6.50 percent was as predicted by 64 of 70 analysts ...

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First Published: Wed, December 05 2018. 22:32 IST