Reserve Bank of India (RBI) governor, Urjit Patel, announced the Sixth Bi-monthly Monetary Policy Statement for the year 2017-18 at a press meet in Mumbai. The repo rate and reverse repo rate for the year remains unchanged at six per cent and 5.75 per cent respectively. Since the Monetary Policy Committee (MPC) meeting in December last, economic activity has gained pace worldwide, he said. Real growth has decelerated from 7.1 per cent in 2016-17 to 6.1 per cent at present, he added.
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