The Reserve Bank of India (RBI) decided to keep the interest rate unchanged in the sixth bimonthly review of monetary policy on Thursday.
"The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target," RBI said.
The CPI inflation projection is revised upwards to 6.5% for Q4 FY20; 5.4-5.0% for H1 FY21; and 3.2% for Q3 FY21.
GDP growth for 2020-21 is projected at 6.0% – in the range of 5.5-6.0 % in H1 and 6.2% in Q3.
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