RBI Governor Shaktikanta Das

RBI MPC Meet: RBI’s Monetary Policy Review Highlights

RBI MPC Meet: The main points of the monetary policy review presented by the Reserve Bank of India (RBI) are as follows:

  • The key policy rate repo was increased by 0.25 percent to 6.50 %.
  • Four of the six members of the MPC voted in favor of raising the repo rate.
  • The growth rate in the current financial year is estimated to be seven percent.
  • The growth rate will come down to 6.4 percent in 2023-24.
  • Monetary Policy Committee (MPC) in favor of focusing on the withdrawal of an accommodative stance.
  • Retail inflation was estimated at 5.6 % in the fourth quarter.
  • Retail inflation will remain at 6.5 % in the current financial year. It is expected to come down to 5.3 percent in the next financial year.
  • Low volatility in the rupee compared to other Asian currencies over the past year and this year so far.
  • The current account deficit will come down in the second half of 2022-23.
  • Proposal to extend UPI facility to travelers coming to India for making payments at shops. Initially, this facility will be available to passengers from G20 countries.

(The IBC NewsTV team may have changed just the report’s headline and cover image; the remaining text was created automatically from a syndicated feed.)

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