RBI keeps Repo Rate unchanged at 6.5%; Deadline to return Rs 2,000 notes ends tomorrow

The Reserve Bank of India (RBI) kept the Repo Rate unchanged at 6.5 per cent for the fourth consecutive policy, but red flagged volatility in food and fuel prices.

Governor Shaktikanta Das said the central bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth and "remains resolutely focused on aligning inflation to the 4 per cent target on a durable basis".

And Rs 12,000 crore worth of Rs 2,000 notes are still to be returned to banks as the deadline ends tomorrow.