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RBI Monetary Policy Update- Repo rates remain unchanged admin April 6, 2024

RBI Monetary Policy Update- Repo rates remain unchanged

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RBI keeps repo rate unchanged at 6.50%
For the 7th time in a row, since February’23

The repo rate is the rate at which RBI lends money to banks.

RBI has announced continuation of withdrawal of accommodation policy. It means that RBI shall continue to tighten the money supply in the market to check inflation.

One of the key highlights of the first monetary policy for the financial year 24-25 was the RBI's projection of India's real GDP growth rate at 7% for the current fiscal. This growth outlook factors in the resilience of the Indian economy amid global headwinds.

On the inflation front, the RBI estimated the Consumer Price Index (CPI) based inflation rate for FY25 at 4.5%. Anchoring inflation within the mandated band of 2-6% remains a key priority for the RBI's monetary policy actions.

Bank rates & EMIs for borrowers are largely likely to remain unchanged for sometime.

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