As per latest RBI Monetary Policy, repo rate remains unchanged at 6.5%.
On 5 April 2024, the Monetary Policy Committee of the RBI decided to keep the repo rate unchanged.
The Standing Deposit Facility rate remains at 6.25% and the Marginal Standing Facility rate and Bank Rate remain at 6.75%.
For the last six consecutive MPC meetings, the RBI has kept the repo rate unchanged.
RBI Governor Shaktikanta Das said that India’s foreign exchange reserves reached an all-time high of $645.6 billion as of March 29, 2024.
According to him, the headline inflation has eased to 5.1% both in January and February.
CPI Inflation for FY25 has been projected at 4.5%. In February, CPI inflation was projected at 5.4% for 2023-24.
The Committee has projected the real GDP growth for FY25 at 7%.
What is Monetary Policy Committee (MPC)?
Monetary Policy Committee was constituted under the Reserve Bank of India Act, 1934.
MPC is a six-member committee comprising three members from RBI including Governor Shaktikanta Das and three members appointed by the Central government.
