GDP growth projection for FY20 slashed from 6.1% to 5%

GDP growth projection for FY20 slashed from 6.1% to 5%

GDP growth projection for FY20 slashed from 6.1% to 5%

The Reserve Bank of India (RBI), widely speculated to continue with its repo rate cut, took economists and industry watchers by surprise on Thursday by leaving the repo rate untouched. The central bank, however, slashed the GDP growth rate projection for the current economic year from 6.1 per cent to 5 per cent. 

The repo rate currently remains unchanged at 5.15 per cent, while reverse repo rate is at 4.90 per cent and bank rate is 5.40 per cent. Though the repo rate remained untouched, the RBI, however, said it will continue with its accommodative stance.

This is a developing story. To be updated.

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