The Reserve Bank of India’s Monetary Policy Committee kept rates on hold on February 6 in-line with expectations, but assured that it will keep an accommodative stance to boost growth in the economy.

The RBI kept the policy repo rate unchanged at 5.15 percent, and consequently, the reverse repo rate under the LAF remains unchanged at 4.90 percent and the marginal standing facility (MSF) rate and the Bank Rate at 5.40 percent.

Last year, RBI slashed interest rates by 135 bps. But in December, rates were unchanged. The US Fed also maintained its status-quo stance last month and did not alter the rates, in order to have an accommodative approach to boost the economy.