Tag: RBI Monetary Policy 2024

New Delhi, December 2024. The Reserve Bank of India (RBI) kept its key interest rate unchanged,  but cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions as economic growth slows. The Monetary Policy Committee (MPC) kept the repo rate (INREPO=ECI) opens new tab unchanged at 6.50% for an eleventh straight policy meeting. "Devendra Kumar pant , Chief Economist, India rating and Research Said' The growth outlook has weakened since the last quarter, both domestic and global factors have contributed towards weak growth outlook. Inflation is the biggest risk for any economy and financial and growth stability can be achieved only when inflation is under control." "The CRR cut to augment liquidity is likely to impact the market intere...

New Delhi, June 07, 2024. The Reserve Bank of India’s Monetary Policy Committee (MPC), which had kickstarted its meeting on Wednesday, has kept the repo rate unchanged at 6.5 per cent for the eight consecutive time. This is the first time the MPC met after the results of the Lok Sabha election were declared. The government has mandated the RBI to ensure CPI inflation at 4 per cent with a margin of 2 per cent on either side. In April, the Central Bank had decided to keep the repo rate unchanged at 6.5 per cent and maintain the policy stance of ‘withdrawal of accommodation’ in the monetary policy. Both the decisions were taken in a majority 5:1 voting by the six-member MPC, headed by Das. Reacting to the move, Adhil Shetty, the CEO of Bankbazaar.com, said that inflation is on a d...

New Delhi, June 07, 2024. The Reserve Bank of India (RBI) Governor Shaktikanta Das announced the second bi-monthly monetary policy of the financial year 2024-25 on Friday. This is the first RBI policy after the Lok Sabha election results 2024. The RBI Governor headed six-member Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 6.5% for the eight consecutive time by a 4:2 majority. It also decided to continue with its stance of ‘withdrawal of accommodation’. RBI raised its GDP growth forecast for FY25 to 7.2% from 7% earlier.  The RBI’s focus on building a secure financial system is commendable. Last week, RBI published its Annual Report which highlighted a rise in digital payment frauds. This surge emphasizes the urgency of tackling financial s...

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. Upasna Bhardwaj, Chief Economist, Kotak Mahindra Bank said, "RBI has retained rates and stance in expected lines. Further, the focus on necessity of inflation to settle closer to 4% remains intact suggesting RBI continues to remain cautious on inflation. We continue to expect RBI to fine tune liquidity conditions to manage the overnight to inch towards the repo rate. The change in stance could follow towards end of 1QF...