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RBI Monetary Policy Latest Updates: Governor Shaktikanta Das apart from announcing MPC’s decision on the repo rate, reverse repo rate and other policy rates, is also likely to discuss the current domestic as well as global economic situation.
RBI Monetary Policy Latest Updates: The Reserve Bank on Friday said the country is poised to become the growth engine of the world as it retained the GDP projection for the current fiscal at 6.5 per cent. While announcing the bi-monthly monetary policy review, RBI Governor Shaktikanta Das said the domestic economy exhibits resilience on the back of strong demand. He also added that the economic growth in the current year is expected to be at 6.5 per cent with risks evenly balanced. The projection is the same as was estimated in the August monetary policy.
In its last three meetings in April, June, and August, the RBI kept the repo rate unchanged at 6.5 per cent. The repo rate is the interest rate at which the RBI lends to other banks. Rating agency Crisil also predicts that the monetary policy committee will maintain the policy rate in the October meeting. Crisil’s August report titled ‘RateView – CRISIL’s outlook on near-term rates’ suggests that a 25 basis point rate cut in early 2024 is a conditional possibility.
RBI Monetary Policy Meeting: Check Lates Updates