Growth has been recovering, output gap is closing: Full text of RBI policy

GDP growth projected to strengthen to 7.4% in FY19, from 6.6% in FY18; 7.3-7.4% in H1FY19 and 7.3-7.6% in H2FY19

First Bi-monthly Monetary Policy Statement, 2018-19 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India
 
On the basis of an assessment of the current and evolving macroeconomic situation1 at its meeting today, the Monetary Policy Committee (MPC) decided to:
 
• keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent.
 
Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent.
 
The decision of the MPC is consistent with the neutral