The Reserve Bank of India (RBI) kept the repo rate unchanged at 5.15 per cent on Thursday, in line with economists expectations, in a bid to combat inflation. The central bank, however, retained its accommodative monetary policy stance as growth remains lacklustre. RBI Governor Shaktikanta Das-led Monetary Policy Committee decided to continue with an “accommodative” policy stance “as long as it is necessary to revive growth, while ensuring that inflation remains within the target”. The “underlying theme of our decisions is financial stability”, said the RBI governor. All six members of the Monetary Policy Committee voted in favour of maintaining the status quo on policy.
