CURRENT AFFAIRS : BANKING & FINANCE
RBI’s Monetary Policy Committee keeps the repo rate unchanged at 6.5%
- The Reserve Bank of India’s (RBI) Monetary Policy Committee headed by RBI Governor Shaktikanta Das in its second bi-monthly monetary policy meeting of FY24 has kept the repo rate unchanged at 6.5%.
Aim:
- To focus remains on the withdrawal of accommodation
- Earlier In the MPC meeting held in February, 2023 the repo rate was increased by 0.25% to 6.50%.
- The RBI also retained FY24 GDP growth forecast at 6.5%, while expecting FY24 CPI inflation to be at 5.1% (from 5.2%).
- The next meeting of the MPC is scheduled for August 8-10, 2023.
