Moneycontrol News
The Reserve Bank of India (RBI) on Wednesday cut the repo rate by 25 basis points (bps) to 6 percent.
In the bi-monthly statement, the central bank said its decision is consistent with the neutral stance of monetary policy "in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 per cent, while supporting growth."
Below is the complete text of the third bi-monthly monetary policy statement for 2017-18.
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