Reserve Bank of India (RBI) keeps repo rate on hold at 6.50%

The Reserve Bank of India (RBI) left its monetary policy settings unadjusted at its monetary policy meeting held today.

Key Details:

Reverse repo rate stays at 6.00%

Monetary policy remains accommodative

Emphasises adequate provision of liquidity

Will conduct open market purchase of govt bonds via auction on 11 Aug

Upside risks to 5% inflation target for March 2017

RBI is awaiting space for policy action