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    <description>The MPC kept the policy repo rate at 6.25 per cent and maintained a neutral stance to achieve the medium-term CPI inflation objective of 4 per cent 2 per cent while supporting growth. The decision reflects waning transitory effects of demonetisation, remonetisation-driven recovery in cash-intensive sectors, rising but contained inflation with persistent underlying pressures, and the need to monitor food, fuel, wage/allowance and GST-related upside risks. Liquidity is being steadily drained and transmission to lending rates is improving; future policy will depend on incoming data.</description>
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