RBI Monetary Policy | Exclusive News

10Oct

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Feature, National News

RBI Monetary Policy:RBI keeps repo rate unchanged

New Delhi, October 2024. The Reserve Bank of India (RBI) announced its fourth bi-monthly monetary policy for FY25 today, October 9. After a three-day meeting of the six-member RBI Monetary Policy Committee (MPC), the RBI Governor Shaktikanta Das announced that the rate-setting panel decided to keep the benchmark repo rate unchanged at 6.5% for the tenth straight meeting. However, the MPC changed the policy stance to ‘Neutral’ from ‘withdrawal of accommodation’. FY25 GDP growth estimates were retained at 7.2%, while CPI Inflation forecast for FY25 remained at 4.5%. Stay tuned to our RBI policy live blog for the latest updates. We continue to see the possibility of a rate cut in Q4 2024. Despite the governors’ emphasis that monetary policy decisions are driven primarily by domesti...

9Aug

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Feature, National News

RBI monetary policy: RBI keeps repo rate unchanged at 6.5%

New Delhi, August 2024. RBI's 4% target due to high food prices, the government’s revision of the consumer price index might ease future spikes. Bloomberg Economics predicts a 25-basis point cut. The RBI faces internal pressure for policy adjustment, with some MPC members advocating for rate cuts. Despite global trends, Das emphasises India’s independent policy, supported by strong reserves. Economists foresee a shift to a neutral policy stance. The RBI’s liquidity management, post-JPMorgan bond index inclusion, will also be crucial in this decision. Shanti Ekambaram, Deputy Managing Director, Kotak Mahindra Bank, said "The MPC's decision to maintain status quo on policy rates and stance underscores their commitment to managing inflation and ensuring price stability. With ...

9Feb

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Feature, National News

RBI Monetary Policy -2024

New Delhi, February 2024. The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has kept repo rates unchanged at 6.5 percent. It has also decided to remain focused on the withdrawal of the accommodative stance, Governor Shaktikanta Das said. This is the sixth consecutive unchanged decision and comes after the Interim Budget was announced on February 1, 2024. “The announcement by the Reserve Bank of India (RBI) extending the Key Fact Statement (KFS) requirement to cover all retail and MSME loans will spearhead enhanced transparency in lending practices. The opaque nature of loan agreements, laden with hidden charges has been a challenge faced by MSMEs when seeking financial support from traditional sources," said Sundeep Mohindru, Promoter & Director, M1xchange. ...

RBI projects growth to hit 7 per cent this fiscal, repo rate unchanged

11Dec

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RBI projects growth to hit 7 per cent this fiscal, repo rate unchanged

Jaipur, December 2023. Reserve Bank of India's (RBI) decision to keep key interest rates unchanged for the fifth consecutive time.The NSE Nifty 50 index saw a rise of 0.37%, reaching 20,976.70 points, and the S&P BSE Sensex increased by 0.36%, hitting 69,770.14 points by 10:10 am IST. The RBI chose to maintain the key repo rate at 6.50%, a decision influenced by strong economic growth and the anticipation of rising food prices in the upcoming months. Mr. Virat Diwanji, Group President and Head - Consumer Bank, Kotak Mahindra Bank Ltd Said ‘’The RBI monetary policy is on the lines of the wider market expectation. However, the GDP growth projection at 7% is higher than anticipated but seems clearly inspired by the stellar show in the Sept quarter GDP numbers. With the robustnes...

RBI MPC keeps repo rate unchanged at 6.5%

7Oct

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RBI MPC keeps repo rate unchanged at 6.5%

New Delhi, October 2023. RBI Monetary Policy Committee has kept the key policy repo rate unchanged at 6.5%. This is the fourth meeting on the trot that the MPC decided to maintain the status quo on the repo rate. The MPC last raised this rate by 25 bps to 6.50% at its meeting in February 2023. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the transmission of 250 bps repo rate cut is still incomplete. The Real GDP growth projection for FY24 remains unchanged at 6.5%. Similarly, inflation for FY24 is projected at 5.4%, unchanged from earlier. Preventing food and fuel price shocks are non-negotiable necessities, the Governor said. RBI may have to consider open market operations (OMOs) with regard to G-secs to manage liquidity, Das added. In the post Mon...