New delhi: India's central banking institution, Reserve Bank of India, on Wednesday announced it has kept the repo rate unchanged at 5.5 percent. Repo rate is the rate at which the central bank lends money to commercial banks in the event of a shortfall of funds.

According to Namibia Press Agency, the Monetary Policy Committee of the Reserve Bank of India voted unanimously to keep the policy repo rate under the liquidity adjustment facility unchanged at 5.50 percent. The decision came after a detailed assessment of the evolving macroeconomic and financial developments and the outlook.

The central bank's statement mentioned that the standing deposit facility rate remains at 5.25 percent while the marginal standing facility rate and the Bank Rate remain at 5.75 percent. Furthermore, the committee has decided to continue with the neutral stance.

Meanwhile, projections for real GDP growth for 2025-26 stand at 6.8 percent, with Q2 expected to reach 7.0 percent, Q3 at 6.4 percent, and Q4 at 6.2 percent.