Category : Business and economicsPublished on: December 09 2024
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The RBI's Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.50% for the 11th time in a row, but at the same time reduced the Cash Reserve Ratio (CRR) for banks by 50 basis points to 4%, in order to provide support to growth.
The RBI has lowered the growth forecast for 2024-25 to 6.6% from 7.2% while due to inflationary pressures, especially the rise in food prices, the retail inflation forecast for 2024-25 has been raised to 4.8% from 4.5%.
