The Reserve Bank of India (RBI) on 6 December 2017 released its Fifth Bi-monthly Monetary Policy Statement 2017-2018. After assessing the current and evolving macroeconomic situation in the economy, the Monetary Policy Committee decided to keep the Repo Rate under the Liquidity Adjustment Facility unchanged at 6.0 per cent.
The Reserve Repo Rate was also kept unchanged at 5.75 per cent and the Marginal Standing Facility Rate and the Bank Rate remained at 6.25 per cent.
The Monetary Policy Committee voted in the ratio of 5:1 in favour of no rate change, with only Ravindra Dholakia favouring a 25 basis point cut in Repo Rate. This is the fourth time in a row that Dholakia casted a dissenting vote. In August 2017, when MPC voted for a quarter point cut in the Repo Rate, Dholakia sought a reduction of 50 basis points.