RBI keeps lending rate unchanged at 6.25%

Six-member Monetary Policy Committee of the Reserve Bank of India, headed by Governor Urjit Patel, on Wednesday kept the short-term lending rate, also called the repo rate, unchanged at 6.25 per cent after its second bimonthly review of this financial year. The committee however, cut SLR by 50 basis points to 20 per cent starting June 24.