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The Reserve
Bank of India on Thursday kept the key policy rate unchanged at 5.15% and
decided to continue with its accommodative stance to support the economy.
The central
bank also revised GDP growth downwards to 5% for 2019-20 from 6.1% projected in
its October policy.
The panel
decided to continue with the accommodative stance as long as it is necessary to
revive growth, while ensuring that inflation remains within the target. All the
six members of the MPC voted in favour of a rate pause.
The CPI
inflation projection is revised upwards to 5.1-4.7 per cent for H2 FY20 and
4-3.8% for H1 FY21. Between February and October 2019, the RBI has reduced repo
rate by 135 basis points.