Reserve Bank of India (RBI) on Friday left interest rates unchanged for the third straight time amid persistently high inflation and said the economy was recuperating fast and would return to positive growth in the current quarter.
The six-member Monetary Policy Committee unanimously decided to keep the repo rate — the rate at which RBI lends to commercial banks — at 4 per cent. Since January, RBI has reduced rate by 115 basis points before hitting the pause button in August on concerns on inflation.
