The Shaktikanta Das-headed six-member Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5 per cent.
The Reserve Bank of India (RBI) has kept its key interest rate unchanged for the ninth consecutive time, its governor Shaktikanta Das announced today.
A six-member Monetary Policy Committee (MPC) headed by Mr Das kept the repo rate unchanged at 6.5 per cent.
The decision was announced after the RBI’s rate-setting panel’s three-day deliberations, which began on Tuesday. It was the first MPC meeting after Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal 2024-25 last month.
The committee, which consists of three RBI and three external members, voted 4:2 to keep the repo rate unchanged. It had last changed rates in February 2023.
“Inflation is broadly on the declining trajectory,” Mr Das said in the monetary policy statement.
He also said that the global economic outlook exhibits steady, though “uneven expansion”.
The MPC also kept the growth projection unchanged at 7.2 per cent for the current financial year.