Maintaining a neutral stance, the Reserve Bank of India on Wednesday in its fourth bi-monthly policy decision maintained a status quo by keeping the repo rate unchanged at 6.0 percent under the liquidity adjustment facility. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility rate and the Bank Rate at 6.25 percent.The neutral stance is in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4 per cent within a band of plus or minus 2 percent, while supporting growth.This decision to maintain a status quo was not unanimous with one member of the Monetary Policy committee not being in favour of the policy decision. Dr. Ravindra H. Dholakia voted for a policy rate reduction of at least 25 basis points.In its fourth bi-monthly policy decision, RBI indicated a rise in inflation. RBI said the inflation is expected to rise from its current level and range between 4.2-4.6 percent in the second half of this year.The MPC indicated a fall in the GVA growth rate. The projection of real GVA growth for 2017-18 has been revised down to 6.7 percent from the August 2017 projection of 7.3 percent.Governor Urjit Patel's six-member monetary policy committee was of the view that various structural reforms introduced in the recent period will likely be growth augmenting over the medium- to long-term by improving the business environment, enhancing transparency and increasing formalisation of the economy. The next meeting of the MPC is scheduled on December 5 and 6, 2017.