The Reserve Bank of India on Wednesday announced that it would keep the policy repo rate unchanged at 5.25%, with the Monetary Policy Committee unanimously deciding in favour of a status quo on the policy interest rate and a neutral stance.
Announcing the key decision, RBI governor Sanjay Malhotra noted that against the backdrop of the West Asia conflict, the economic growth continues to be supported by resilient demand.
However, he noted that the global economy has been challenged by the conflict, with disruption to key trade routes.
Governor Malhotra said that India continues to be the world’s fastest-growing large economy.
This is a breaking story. We will update with further information.
