RBI lowers 2016-17 GDP forecast post demonetisation
In the wake of cash crunch following demonetisation, the Reserve Bank of India (RBI) on Wednesday lowered the growth forecast by 0.5% to 7.1% for 2016-17. This was the first bi-monthly monetary policy review of RBI after demonetisation, where it decided to keep the repo rate unchanged at 6.25%. 