**The Reserve Bank of India (RBI) has kept interest rates at record lows in a continuing effort to return the economy to growth.**The repo rate - at which the central bank injects short-term money into the banking system - was held at 4.75%.
The cash reserve ratio - the percentage of banks’ deposits they must keep in cash - was also held at 5%.
The central bank said it would maintain an “accommodative monetary stance” until there were signs of a recovery.
It said its forecast for economic growth in the current financial year was unchanged at 6%.
“The RBI is still working in conjunction with the fiscal policy, which is trying to nurture growth,” said Sachchidanand Shukla, economist at Enam Securities in Mumbai.
He added that the central bank’s focus would shift to battling inflation by the beginning of 2010.