<p>Mumbai: The Reserve Bank of India on Friday decided to keep the policy rate unchanged for the eighth time in a row, saying it will maintain a tight vigil on inflation.</p><p>The rate increase cycle was paused in April last year after six consecutive rate hikes, aggregating to 250 basis points since May 2022.</p><p>Announcing the second bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent.</p><p>He said MPC will remain watchful of elevated food inflation amid the expectation of a normal monsoon.</p><p>The RBI raised the growth projection to 7.2 per cent from an earlier estimate of 7 per cent for the current financial year.</p><p>The government has mandated the RBI to ensure CPI inflation at 4 per cent with a margin of 2 per cent on either side.</p>
<p>Mumbai: The Reserve Bank of India on Friday decided to keep the policy rate unchanged for the eighth time in a row, saying it will maintain a tight vigil on inflation.</p><p>The rate increase cycle was paused in April last year after six consecutive rate hikes, aggregating to 250 basis points since May 2022.</p><p>Announcing the second bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent.</p><p>He said MPC will remain watchful of elevated food inflation amid the expectation of a normal monsoon.</p><p>The RBI raised the growth projection to 7.2 per cent from an earlier estimate of 7 per cent for the current financial year.</p><p>The government has mandated the RBI to ensure CPI inflation at 4 per cent with a margin of 2 per cent on either side.</p>