RBI keeps repo rate unchanged at 6.50% after two hikes in a row
RBI's six-member Monetary Policy Committee (MPC) in its fourth bi-monthly policy statement for FY19 on Friday kept the repo rate unchanged at 6.50% after hiking it by 25 bps two times in a row. The decision comes despite weakening rupee, surging oil prices and market instability. Repurchase (repo) rate is the rate at which RBI lends money to commercial banks.