The Reserve Bank of India’s (RBI) on Friday kept the GDP growth forecast for FY24 unchanged at 6.5%.
Banking & Finance
The RBI Monetary Policy Committee has kept the key policy repo rate unchanged at 6.5%. This is the fourth consecutive meeting in which the MPC has decided to maintain status quo on the repo rate. The MPC had last increased this rate by 25 bps to 6.50% in its meeting in February 2023. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the transmission of the 250 bps repo rate cut is still incomplete. Real GDP growth forecast for FY24 is unchanged at 6.5%. Similarly, inflation for FY24 is estimated at 5.4%, unchanged from earlier.
____________________________
