New Delhi, Apr 5 (KNN) In a move that maintained status quo on interest rates, the Reserve Bank of India (RBI) on Friday decided to keep the key policy repo rate unchanged at 6.5 per cent for the seventh consecutive time.

The announcement was made by RBI Governor Shaktikanta Das at the conclusion of the two-day Monetary Policy Committee (MPC) meeting, on Friday.

The six-member rate-setting panel, headed by the Governor, also voted to continue with the 'withdrawal of accommodation' stance on monetary policy.

One of the key highlights of the first monetary policy for the financial year 2024-25 was the central bank's projection of India's real GDP growth rate at 7 per cent for the current fiscal. This growth outlook factors in the resilience of the Indian economy amid global headwinds.

On the inflation front, the RBI estimated the Consumer Price Index (CPI) based inflation rate for FY25 at 4.5 per cent. Anchoring inflation within the mandated band of 2-6 per cent remains a key priority for the central bank's monetary policy actions.

(KNN Bureau)