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The RBI monetary policy committee (MPC) decided to keep the policy repo rate unchanged at 6.50 per cent and other policy rates were also kept unchanged.
“The monetary policy committee decided unanimously at 6.50 per cent with a readiness to act if the situation so warrants,” Das said. The RBI Governor also said that the withdrawal of accommodation and that the repo rate hike has been paused only for this meeting.
RBI projects 5.2 pc inflation for FY24, 5.1 pc in Q1. Das said that the current financial year points towards softening of inflation; war against inflation to continue until there is durable decline.
RBI marginally raises GDP growth projection for FY24 to 6.5 pc from earlier estimate of 6.4 pc.
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