Mumbai, Dec 2 (IANS) In line with expectations, the Reserve Bank of India (RBI) Tuesday decided to keep key interest rates unchanged in its fifth bi-monthly policy review.
The apex bank kept the repo rate, or the interest that banks pay when they borrow money from the RBI to meet their short-term fund requirements, unchanged at 8 percent.
The reverse repo rate, or the interest that the RBI pays to commercial banks when they park their surplus short-term funds with the central bank, has been adjusted to 7 percent.