Reserve Bank of India keeps repo rate unchanged at 6.5 pct for 8th time in row

NEW DELHI, June 7 (Xinhua) -- India's central bank Reserve Bank of India (RBI) on Friday announced that it has kept the repo rate unchanged at 6.5 percent.

Repo rate is the rate at which the central bank lends money to commercial banks in the event of a shortfall of funds.

This is the eighth time in a row the bank's Monetary Policy Committee (MPC) has decided to keep the key rates unchanged.

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