CURRENT AFFAIRS : BANKING & FINANCE
RBI Monetary Policy Highlights: Keeps Repo rate unchanged at 6.5%; Retail inflation for FY24 pegged at 5.4%
- Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5% for the 3rd time in a row.
RBI’s Policy Rates :
Category | Rate |
Repo Rate | 6.5% |
Reverse Repo Rate | 3.35 |
Standing Deposit Facility | 6.25% |
Marginal standing facility | 6.75% |
GDP growth projection | 6.5% |
C Consumer Price Index (CPI) inflation | 5.4% |
Bank Rate | 6.75% |
Cash Reserve Ratio (CRR) | 4.50% |
Statutory Liquidity Ratio (SLR) | 18% |
Key Highlights :
- Real GDP growth for 2023-24 is projected at 6.5% with Q1:2023-24 at 8.0%; Q2 at 6.5%; Q3 at 6.0%; and Q4 at 5.7% & Q1FY25 at 6.6%.
