The Reserve Bank of India will keep its key interest rate on hold at 5.50% until at least the end of this fiscal year after its big 50 basis-point cut on Friday to support slowing urban household consumption,

Bank of India has revised its repo-based lending rate after the RBI cut the repo rate by 50 basis points to 5.5%. The public sector bank has cut its RBLR rate by 50 bps to 8.35%. The earlier rate stood at 8.

RBI Governor Sanjay Malhotra's shift in policy stance, along with his statement that the RBI MPC will now carefully assess income data and the evolving economic outlook before deciding on further action,