Post Date : 09/02/2017
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) headed by RBI Governor Urjit Patel has kept the key policy rates unchanged. It was central bank’s sixth bi-monthly and last policy for the financial year 2016-17 and overall the third by the MPC. All six members of the MPC voted in favour of holding rates. Besides, RBI also changed its stance from accommodative to neutral. It also lowered GDP growth forecast for the current fiscal to 6.9%. However the apex bank expects a rebound in GDP growth to 7.4% in 2017-18.
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