The Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) on Friday held steadfast in its battle against inflation amid weakening growth momentum, with four of its six members voting to keep policy repo rate unchanged at 6.5% for the 11th bi-monthly review in a row. However, acknowledging that the economy is facing tight liquidity condition that are likely to persist for a few months, it cuts the Cash Reserve Ratio (CRR) for banks by 50 basis points to 4%, after gap of nearly four years, in a bid to support growth. Inflation had spiked to 14-month high of 6.2% in October, the last available price rise number. RBI's mandate is to ensure price stability while supporting growth, Mr. Shaktikanta Das, Governor of RBI said persistently high inflation reduced the disposable income of consumers and dented private consumption which negatively impacted the real GDP growth in the July to September quarter fell to a seven-quarter low of 5.4%, compared to RBI's 7% projection.