The Reserve Bank of India kept repo rate unchanged in its fifth bimonthly meeting today. The central bank's Monetary Policy Committee (MPC) voted 5:1 in favour of status quo. The reverse repo rate too remains unchanged at 5.75 per cent. Repo rate is the rate at which banks the RBI lends to other banks and is considered the key policy rate. The only repo rate cut this year was in August when RBI reduced it by 25 basis points (0.25 per cent).

Source: India Today December 06, 2017 09:45 UTC