RBI holds interest rates despite govt demands

June 07, 2017 14:48

The government had been making a case for a lower interest rate regime citing low inflation as well as the need to revive investments and growth.

With the 6-member RBI committee refusing to bend, experts say the RBI may assess the impact of GST on prices before cutting policy rates.

The six-member Monetary Policy Committee is headed by RBI Governor Urjit Patel.

Finance Minister Arun Jaitley said inflation has been under control for long and is likely to remain so on the back of good monsoon forecast and unlikely spike in oil prices.

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