RBI Keeps Repo Rate Unchanged, Downgrades Growth Forecast To 6.7% | Read
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.
