India's central bank keeps repo rate unchanged at 6.5 pct

NEW DELHI, Dec. 6 (Xinhua) -- Reserve Bank of India (RBI), India's central banking institution, on Friday announced 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 shortfall of funds.

This is the 11th time in a row that the six-member Monetary Policy Committee (MPC) has decided to keep the key rates unchang