RBI keeps key rate unchanged

In the first quarter Monetary Policy review today, the RBI kept the key lending rate (repo rate) unchanged. Repo rate or the rate at which at the central bank lends money to commercial banks remains unchanged at 8.0%. Even the cash reserve ratio (CRR) stayed at 4%. However, in an effort to ease some liquidity the statutory liquidity ratio (SLR) was reduced from 22.5% to 22%. In the last policy review too, the central bank had chosen to tinker with the SLR, while keeping other rates unchanged.