RBI keeps key lending rate unchanged at 6.5% for 8th consecutive time

Mangalore Today News Network

New Delhi, June 7, 2024: The Reserve Bank of India kept key lending rate unchanged for the eighth consecutive time as robust economic growth continues to provide space to focus on bringing down inflation.

"The world has gone through one crisis after another in recent years, but the Indian economy exhibits strong fundamentals. We need to remain vigilant in an uncertain global environment," RBI Governor Shaktikanta Das said in a press conference.

"RBI remains committed for aligning inflation to 4 per cent on a durable basis," he added.

The Monetary Policy Committee (MPC) kept the repo rate steady at 6.5 per cent. The MPC had last changed rates in February 2023.

Mr Das said that four out of the six MPC members votes in favour of keeping the repo rate unchanhged.