Kolkata: The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) unanimously decided to maintain the policy Repo Rate at unchanged at 5.5% which effectively means that the interest rates on loans before the festive season peaking before Diwali will not come down. RBI governor Sanjay Malhotra saying that the impact of GST rejig and fiscal measures are still paying out and they would like to wait for the full impact before initiating any step. The policy stance of the central bank will also continue to be neutral, he said.

Since the GST rejig has brought down the prices of a large number of items of daily use, a rate cut at this stage could have turbo-charged consumption, which, in turn, could have pushed the GDP growth rates. The RBI governor also said in his statement that they w

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