At its Monetary Policy review, the Reserve Bank of India (RBI) on Tuesday kept the short-term indicative policy rate unchanged at 7.75 percent.
They cut statutory liquidity ratio by 0.5 percent to 21.5 percent.
“Given that there have been no generous new improvements on the disinflationary process or on the monetary viewpoint since January 15, it is appropriate for the RBI to await them and keep up the current Interest Rate stance,” RBI Governor Raghuram Rajan said in the statement.
