The Reserve Bank of India kept interest rates unchanged for the second time in a row in the current financial year. Announcing the second bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra today said that the Monetary Policy Committee (MPC) has unanimously decided to retain the short-term lending rate or the repo rate at 5.25 per cent with a neutral stance.

RBI has lowers GDP growth projection to 6.6 pc from 6.9 pc earlier for current fiscal. Governor also increased CPI inflation target to 5.1 percent from 4.6 per cent for current financial year. RBI has also raised limit for investments by Non-Resident Indians, Overseas Citizens of India in equity instruments.