INSUBCONTINENT EXCLUSIVE:
RBI Policy: Five of the six panel members voted to leave the rate unchanged.
In a surprise move, the
Reserve Bank of India (RBI) kept the repo rate- the rate at which it lends loans to commercial banks - unchanged at 6.5 per cent
The reverse repo rate or the rate at which RBI borrows from commercial banks was kept unchanged at 6.25 per cent
Soon after the announcement, the rupee breached the 74 mark against the US dollar for the first time ever
Experts had largely expected the RBI to hike the repo rate by 0.25 per cent
