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RBI keeps repo rate unaffected at 6.25 per cent

| | Dec 07, 2016, at 08:59 pm
#RepoRate #RepoRateUnaffected #MPC #UrjitPatel
Mumbai, Dec 7 (IBNS) : Contrary to the expectations of many, Reserve Bank of India Governor Urjit Patel left the repo rate unchanged in the first policy meeting post demonetisation, reports said.

The six-member  Monetary Policy Committee (MPC) of RBI decided not to cut the repo rate from 6.25 percent.

The MCP  in its first policy review had  cut interest rate by 0.25 per cent in October.

The RBI decision triggered a fall in the stock market  with the BSE Sensex and NSE Nifty going down.

Sensex fell 376 points  and Nifty fell 113 points from day's highest point.

 

 

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