India keeps key rates unchanged over inflation, geopolitical concerns

India's central bank, the Reserve Bank of India (RBI), Tuesday decided to keep key interest rates unchanged in its fourth bi-monthly policy review.

The move apparently is aimed at controlling inflation and reflects concerns over geopolitical turbulence in West Asia, the main source of oil supply for India.

The apex bank kept the repo rate which takes from borrowers form RBI unchanged at 8 percent, while the reverse repo rate RBI pays to commercial banks when they park their surplus short-term funds with the central bank is adjusted to 7 percent.

The cash reserve ratio is left unchanged at 4 percent, while the marginal standing facility rate and the bank rate is also kept unchanged at 9 percent.

The Indian stocks remained stable after the widely expected RBI policy announcement.

The RBI says it is focused on inclusive growth by maintaining a conservative policy despite calls for lowering of the rates by the country's corporate sectors.