RBI holds rates as food inflation lingers

Normal monsoon could bring prices down, Indian central bank says

Indian banknotes

The monetary policy committee of the Reserve Bank of India (RBI) voted by a majority to hold its key policy rate today (June 7). 

The MPC kept its main tool, the repo rate, unchanged at 6.55. It also kept the standing deposit facility and marginal standing facility rates at 6.25% and 6.75% respectively.

The committee decided by a 4-2 majority to keep the rates unchanged. Two members supported cutting rates by 25 basis points. 

Governor Shaktikanta Das says the committee remains vigilant to upside

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