RBI keeps repo rate unchanged at 6.5%; FY24 GDP growth estimate maintained at 6.5%

RBI keeps repo rate unchanged at 6.5%; FY24 GDP growth estimate maintained at 6.5%

Daily Current Affairs / RBI keeps repo rate unchanged at 6.5%; FY24 GDP growth estimate maintained at 6.5%

Change Language English Hindi

Category : Business and economics Published on: June 10 2023

Share on facebook

In line with expectations, the monetary policy committee (MPC) of the Reserve Bank of India (RBI) kept the repo rate unchanged at 6.5 per cent, in its second bi-monthly monetary policy of fiscal 2023–24, which was held between June 6 and 8.
The repo rate is the rate at which the central bank of a country lends money to commercial banks in the event of any shortfall of funds.
Further, the MSF rate remains unchanged at 6.75 per cent, while the bank rate also stands steady at 6.75 per cent.
RBI has also lowered retial inflation projection to 5.1 percent during FY'24 from earlier estimate of 5.2 percent. RBI Governor said that GDP growth in Q1 this fiscal year expected at 8 percent.

Recent Post's

Monsoon Session adjourned sine die after 21 sittings and 15 Bills passed.
Read More....
Govt extends Fortified Rice Scheme till 2028 with ₹17,082 crore funding.
Read More....
UIDAI launches Aadhaar authentication framework for Cooperative Banks nationwide.
Read More....
Supreme Court bans public feeding of stray dogs; Delhi civic body to set feeding zones.
Read More....
PM Modi inaugurates ₹13,000 crore projects in Gaya, including ₹1,870 crore Ganga bridge.
Read More....
Cyberattack on DaVita compromises data of 2.7 million patients, costing $13.5 mn.
Read More....
Meta signs $10 bn, six-year deal with Google Cloud to boost AI development.
Read More....
India bans all bilateral sports events with Pakistan across disciplines.
Read More....
HDFC Bank invests in BharatGPT developer CoRover to promote sovereign AI.
Read More....
New moth species Carcina ingridmariae identified after decades of confusion.
Read More....