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Wednesday, 04 October 2017 - 15:09
RBI Keeps Repo Rate Unchanged, Downgrades Growth Forecast To 6.7%
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The Reserve Bank of India (RBI) kept its policy rate unchanged at a near seven-year low of 6 per cent on Wednesday, despite a sharp slowdown in economic growth, after a surge in consumer inflation to a five-month high. 

The central bank has also cut its growth forecast for the year. "The projection of real GVA growth for 2017-18 has been revised down to 6.7 per cent from the August 2017 projection of 7.3 per cent," the RBI said in a statement.

All but three of 60 analysts polled by Reuters had expected the RBI to keep the repo rate steady.

India Inc had called for a sharp cut in interest rate for boosting the economic growth rate.

Source - NDTV
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