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The Reserve Bank of India has kept its repo rate unchanged at 5.15% in its February MPC meet, despite slowing growth, and revised up its inflation projections, estimating it would range between 5.0% and 5.4% in the first half of the upcoming fiscal year.
The RBI, which cut interest rates by a cumulative 135 basis points last year, is now expected to stay on hold until late this year, putting the onus on the government to boost the flagging economy.
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