The Reserve Bank of India (RBI) has kept its key lending rate steady for a second straight policy meeting, in line with expectations, but signalled that monetary conditions will remain tight for some time as it seeks to further curb inflationary pressures.
The monetary policy committee (MPC), in a unanimous decision have kept the repo rate steady at 6.50 per cent. India has raised rates by 250 basis points (bps) since May 2022. MPC will take further monetary actions as required to bring down inflation to the target.