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RBI keeps rates on hold; to gradually reduce SLR

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 monetary policy committee (MPC) kept the repo rate unchanged at 6.50 percent on Wednesday as predicted by 64 of 70 analysts in a Reuters poll. The central bank also retained its 'calibrated tightening' stance as expected.All six members of the MPC voted to keep the rates on ...

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First Published: Wed, December 05 2018. 15:13 IST