08 Feb, 24
RBI’s Monetary Policy Committee keeps the repo rate unchanged at 6.5 per cent
The Reserve Bank of India (RBI) has kept the repo rates unchanged for the sixth time in a row at 6.5 per cent
Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das on Thursday said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent.
The repo rate is the rate of interest at which RBI lends to other banks. The decision was made during the three-day RBI’s monetary policy committee which started on Tuesday (February 6-8).
The RBI typically conducts six bi-monthly meetings in a financial year, where it decides interest rates, money supply, inflation outlook, and various macroeconomic indicators.
Keeping the repo rate remain unchanged at 6.5 per cent after having raised it by 250 basis points between May 2022 and February 2023, RBI Governor Shaktikanta Das said ‘India’s potential growth is propelled by structural drivers.’
He also mentioned increasing geopolitical tensions impacting supply chain and putting pressure on commodity prices especially crude oil.
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