Governor of the Reserve Bank of India (RBI) Raghuram Rajan (C) speaks during a conference at the RBI headquarter in Mumbai, India, Dec. 18, 2013. India's central bank kept its key interest rate unchanged. (Xinhua/Stringer)
India's central bank keeps major interest rate unchanged
MUMBAI, Dec. 19 (Xinhua) -- To combat inflation and consolidate the economical growth, India's central bank he Reserve Bank of India (RBI) announced to keep its repo rate at 7.75 on Thursday.
The central bank maintained the reverse repo at 6.75%, the cash reserve ratio at 4% and the marginal standing facility and the bank rate at 8.75% followed what seemed to be strong signals that an increase was all but inevitable in the face of unrelenting inflation. Full story