RBI Repo Rate: Reserve Bank maintains repo rate at 6.5 percent, Governor Shaktikanta Das said this

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RBI Governor Shaktikanta Das on Repo Rate: The Reserve Bank of India (RBI) has kept the key policy rate repo unchanged at 6.5 per cent in its second bi-monthly monetary review of the current financial year. Along with this, the central bank has also retained its economic growth rate forecast for the current financial year at 6.5 percent. At the same time, the inflation forecast for the current financial year 2023-24 has been reduced from 5.2 percent to 5.1 percent. Giving information on Thursday about the decision taken in the three-day meeting of the Monetary Policy Committee (MPC) that began on Tuesday

RBI Governor Shaktikanta Das said this

RBI Governor Shaktikanta Das said, despite global uncertainties, the Indian economy and financial sector remain strong and resilient. He said that the MPC has decided to keep the repo rate unchanged at 6.5 per cent. Along with this, he said that the Monetary Policy Committee will focus on withdrawing its liberal stance.

What is repo rate?

Repo is the interest rate at which commercial banks borrow from the central bank to meet their immediate needs. Even in the last monetary review meeting of April, the MPC did not change the repo rate. Earlier, mainly to bring inflation under control, the repo rate was increased by 2.50 per cent six times since May last year.

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