The RBI has maintained the status-quo on the key short-term borrowing rate (repo) in its last three policy meets.
The six-member MPC is widely expected to keep the repo rate unchanged at 6 per cent on Thursday.
The April policy, being the first one of the new fiscal year, is important as it spells out overall path of the policy and outlook on aspects such as inflation and growth
Export growth expected to improve further on account of improving global demand
Five on the six-member monetary policy committee voted for the decision, with one seeking a hike
The RBI meanwhile fixed the reference rate for the dollar at 64.2723 and for the euro at 79.5241
The outcome of the 6-member MPC meeting is being keenly awaited by stakeholders amidst a huge sell-off in the stock markets globally
Governor Urjit Patel needs to keep interest rates low to ensure Prime Minister Narendra Modi can bridge a widening fiscal deficit
Interview with Urjit Patel and other top officials
Clearly, RBI does not want to act in a knee-jerk manner in response to the sub-6% GDP out-turn in April-June
As it is 'stuck in a conundrum' of low growth, mild inflation and global uncertainties
The decision of the monetary policy committee is consistent with the neutral stance
RBI governor and deputy governor on RBI rate cut policy
RBI cut the repo rate by 25 basis points to 6%
The revision in rate is the second cut after MPC became operational in October 2016
Arun Jaitley says final figures will come out once the fake notes were weeded out
That's well below RBI's 4% target and its projection of 2.0-3.5 per cent in April-September
But five of 14 economists say they expect RBI to hit the 'pause' button
Deutsche Bank's Kaushik Das says the central bank would remain in a wait-and-watch mode
Here are the highlights of the policy statement presented on 7 June and last six preceding