RBI unchanged interest rates
Aforementioned, Reserve Bank Of India held three- day meet over Bi-Monthly Monetary Police from 3rd -5th October. On the last day of the meet, today RBI has announced shortly over the interest rates.
It's a huge relief for Banking Sector as the Policy Repo rate under the liquidity adjustment facility (LAF) is unchanged at 6.5 percent.
Actually everyone thought of hike in interest due to hike in Oil Prices followed by the successive diminishing of rupee value.
Earlier, three banks ICICI, SBI, and HDFC have increased the interest rates even before RBI’ Bi-Monthly Monetary Policy is out.