NEW DELHI, Aug. 5 (Xinhua) -- India's central bank, Reserve Bank of India (RBI), on Wednesday announced it has kept the repo rate unchanged at 5.25 percent.
Repo rate is the rate at which the central bank lends money to commercial banks in the event of a shortfall of funds.
"After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, the Monetary Policy Committee (MPC) voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25 percent," reads a statement issued by the RBI. "Consequently, the standing deposit facility (SDF) rate remains at 5.00 percent and the marginal standing facility (MSF) rate and the Bank Rate remain at 5.50 percent."
According to the RBI, the MPC also decided to continue with the neutral stance.
According to the RBI, the Indian economy has remained resilient amidst persisting global headwinds. ■
