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RBI Keeps Rates Unchanged

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April 1: The Reserve Bank of India announced its bi-monthly monetary policy for FY15. Keeping the rates unchanged, RBI announced that further rate hikes will not be required if inflation does head lower. The central bank also forecast FY14 GDP growth at 4.7%. RBI Governor Raghuram Rajan also added that the bank will give in-principle nod for new banking licences post consulting Election Commission.