Rebuffing pressure from the government to reduce cost of borrowing, Reserve Bank of India governor Raghuram Rajan on Tuesday kept key policy rates unchanged.
Rajan, however, said that cost of funds will come down for borrowers as banks are expected to pass on benefits of the earlier rate cuts.
Announcing the third bi-monthly monetary policy review in Mumbai, Rajan kept unchanged the policy repo and reverse repo rate - the rate at which RBI lends to and borrows from banks respectively - at 7.25% and 6.25%.
RBI ignores govt pressure, keeps key rates unchanged - The Times of India
Rajan, however, said that cost of funds will come down for borrowers as banks are expected to pass on benefits of the earlier rate cuts.
Announcing the third bi-monthly monetary policy review in Mumbai, Rajan kept unchanged the policy repo and reverse repo rate - the rate at which RBI lends to and borrows from banks respectively - at 7.25% and 6.25%.
RBI ignores govt pressure, keeps key rates unchanged - The Times of India
