Rbi Keeps Repo Rate Unchanged At 6 5 Lowers Inflation Estimate To 5 1 In Fy24

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

RBI keeps repo rate unchanged at 6.5%; lowers inflation estimate to 5.1% in FY24

ri-calendar-2-lineJun 8, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

The Reserve Bank of India (RBI) maintained the policy repo rate at 6.5%. The RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has unanimously decided to keep the policy repo rate unchanged.

The standing deposit facility (SDF) rate remains unchanged at 6.25% and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

The central bank has cut the inflation aim to 5.1% from the 5.2% forecast in the April policy.

The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth.  As these decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

The RBI has maintained its GDP growth projection for the fiscal year 2023-24 at 6.5%.

The MPC, with a majority of five out of six members, remains focused on the withdrawal of accommodation to ensure that inflation progressively aligns with the target while supporting growth, RBI Governor Das said.

The central bank has lowered the inflation projection to 5.1% during FY24 from an earlier estimate of 5.2%. Despite this slight decrease, the Governor emphasized that headline inflation is above the RBI's target of 4% and is expected to remain so for the rest of the year.

Further, the government has mandated the RBI to ensure CPI inflation at 4% with a margin of 2% on either side.

The next meeting of the MPC is scheduled during August 8-10, 2023.

Source: Media reports

Related News

News Thumbnail
Economy

The ₹2000 banknote withdrawal: Where we stand

3 mins read. November 3, 2023 at 08:41 AM

News Thumbnail
Economy

FOMC holds Fed Funds Rate steady with Cautionary Outlook

1 mins read. November 3, 2023 at 08:25 AM

News Thumbnail
Economy

Coal sector records 16.1% growth in September 2023: Centre

2 mins read. November 3, 2023 at 04:09 AM

News Thumbnail
Economy

Indian Railways achieves 87.25 MT freight loading till October 2023

1 mins read. November 2, 2023 at 04:46 AM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions