The Reserves Bank of India, RBI has kept repo rate unchanged at 6.25 per cent.
In its second bi-monthly policy review today, the Central bank cut the Statutory liquidity ratio by 0.5 per cent. It has projected inflation in the range of 2 to 3.5 per cent for first half of 2017-18 and 3.5 to 4.5 per cent for the second half.
RBI said, the implementation of GST is not expected to have material impact on overall inflation. It has also cut the growth projection for current fiscal to 7.3 per cent from 7.4 per cent.