The Reserve Bank of India (RBI) on Friday kept its key lending rate unchanged at 6.5% for the seventh consecutive time. The decision was taken by a 5:1 majority at the bi-monthly Monetary Policy Committee (MPC) meeting, said RBI Governor Shaktikanta Das. An unchanged repo rate means the loan interest rates too are likely to remain unchanged.

Mr Das also said that inflation is moving closer to targets. Core inflation has declined steadily over the last nine months while the fuel component remained in deflation for six straight months, he said.

“As the uncertainties in food prices continue to pose challenges, the MPC remains vigilant to the upside risk to inflation that may derail the path of disinflation,” he said, adding that the outlook for agricultural and rural activity appears bright.

Robust growth prospects provide space for the policy to remain focussed on inflation, said the RBI Governor.

He said the global economy remained resilient and global trade is expected to grow faster in 2024.

“Services inflation remains sticky in advanced economies. Equity markets have gained while bond yields and dollar remained volatile,” said Mr Das.

He also said that India’s liquidity situation improved in March while the average borrowings under the marginal standing facility, which allows banks to borrow funds, moderated.

Former Delhi Deputy Chief Minister and senior AAP leader Manish Sisodia has written a fresh letter from jail, saying that he will walk out of jail soon.

In the letter addressed to the people of his assembly segment, the jailed leader said his party is fighting for good education and schools, “just like everyone had fought for Independence”.

“The dream of independence came true only after the British dictatorship. Similarly, one day every child will get proper and good education,” said the AAP leader.

“Will meet outside soon,” he said in his letter from Tihar Jail.

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Mr Sisodia, who has been in jail in the liquor policy case for over 13 months, said even the Britishers were arrogant of their power and had imprisoned Mahatma Gandhi and Nelson Mandela.

“The British too were very arrogant of their power and used to imprison anyone they wanted on false charges. Even they used to think these jail walls will break those fighting for freedom,” read the letter dated March 15.

Stating that Gandhi and Mandela are his inspiration, Mr Sisodia told the residents of his constituency, “You all are my strength. My love for you people increased further by being in jail.”

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Mr Sisodia is among the first few AAP leaders arrested in the alleged liquor policy scam. The chief of his party, Chief Minister Arvind Kejriwal, and BRS leader K Kavitha were arrested in the case last month, just weeks ahead of the Lok Sabha elections. Another AAP leader, Sanjay Singh, who was also arrested in the case, was released earlier this week.

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