Mumbai: Reserve Bank of India keeps the repo rate and reverse repo rate unchanged. The repo rate is at 6.25 per cent while the reverse repo rate is at 5.75 per cent.

Six-member MPC notes that growth has been recovering and output gap is closing. RBI lowers inflation projection for 2018-19 to 4.7-5.1 per cent in first half and 4.4 per cent in H2.

GDP growth projected to strengthen to 7.4 per cent in FY19, from 6.6 pc in 2017-18; 7.3-7.4 per cent in H1 and 7.3-7.6 per cent in H2.