November 06, 2024 01:07 (IST)
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Mumbai, Dec 7 (IBNS) : Contrary to the expectations of many, Reserve Bank of India Governor Urjit Patel left the repo rate unchanged in the first policy meeting post demonetisation, reports said.
The six-member Monetary Policy Committee (MPC) of RBI decided not to cut the repo rate from 6.25 percent.
The MCP in its first policy review had cut interest rate by 0.25 per cent in October.
The RBI decision triggered a fall in the stock market with the BSE Sensex and NSE Nifty going down.
Sensex fell 376 points and Nifty fell 113 points from day's highest point.
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