The Monetary Policy Committee of the RBI has emphasised on growth and kept the interest rates unchanged.
Repo rate is the rate at which the central bank of a country (RBI in case of India) lends money to commercial banks in the event of any shortfall of funds.
Reverse Repo Rate is the rate the central bank of a country pays its commercial banks to park their excess funds in the central bank.
References
Quick Facts
Monetary Policy Committee