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- RBI has decided to keep policy repo rate unchanged at 6.50% for 11th time.
- RBI has decided to keep it unchanged by a majority of 4:2.
- Standing deposit facility (SDF) rate is kept at 6.25 per cent.
- Marginal standing facility (MSF) rate and the Bank Rate are kept at 6.75 per cent.
- Since February 2023, the RBI has kept benchmark interest rates unchanged.
- The Monetary Policy Committee (MPC) also decided unanimously to continue with the ‘neutral’ outlook.
- Cash Reserve Ratio (CRR) has been reduced by 50 basis points to 4%.
- CRR is a percentage of a bank’s deposits that they keep with the RBI as reserves.
- GDP growth projection for FY25 has been reduced to 6.6% from 7.2%
- Inflation projection for FY25 has been kept at 4.8%
- In September 2023, the UPI credit line was introduced. scheduled commercial banks were given access to it.
- The decision has finally been made to allow small finance banks to approve UPI credit lines.
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