RBI Monetary Policy Updates: MPC decisions for October unveiled, repo rate unchanged at 6.5%
RBI Monetary Policy Highlights: Reserve Bank of India (RBI) governor Shaktikanta Das on Friday unveiled decisions taken at the central bank's latest 3-day Monetary Policy Committee (MPC) meet, that was being held since Wednesday. The MPC, Das said, decided ‘unanimously’ to keep the policy repo rate unchanged at 6.50%. He also announced other key decisions taken by the panel....Read More
At the previous meet as well, in August, the MPC maintained status quo on repo rate. In fact, in its previous three policy meets, including the one in August, the panel kept interest rates unchanged. For October too, it was widely expected that repo will not be changed.
Since May last year, the repo rate has seen an increase of 250 basis points (bps).
RBI Monetary Policy Live Updates: Bank brings new channels for Card-on-File Tokenisation (CoFT)
Given the growing acceptance and benefits of tokenisation of card data, it is now proposed to introduce Card-on-File Tokenisation (CoFT) creation facilities directly at the issuer bank level. This measure will enhance convenience for cardholders to get tokens created and linked to their existing accounts with various e-commerce application: RBI governor
RBI Monetary Policy Live Updates: ‘Inflation target is 4%’
The RBI’s aim is to align inflation to the target on a durable basis while supporting growth. Emphatically reiterate that our inflation target is 4% and not 2 to 6%: Shaktikanta Das
RBI Monetary Policy Live Updates: Headline inflation for Q1 FY24
According to governor Das, the headline inflation stood at 4.6% in the first quarter of the ongoing financial year. For Q1 2022-23, on the other hand, it was recorded at 7.3%.
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RBI Monetary Policy Live Updates: GDP growth forecasts unchanged
Q1 FY24: 6.5%
Q2 FY24: 6.5%
Q3 FY24: 6%
Q4 FY24: 5.7%
RBI Monetary Policy Live Updates: CPI inflation projections announced
RBI projects 5.4% (unchanged) CPI inflation for Q1 FY 2023-24, 6.4% for Q2, 5.6% for Q3, and 5.2% for Q4.
For Q1 2024-25, meanwhile, CPI inflation projected at 5.2%.
RBI Monetary Policy Live Updates: MPC retains repo rate at 6.50%
The central bank's MPC decided ‘unanimously’ to keep the policy repo rate unchanged at 6.50%, announces RBI governor Shaktikanta Das.
“After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, RBI’s Monetary Policy Committee decided unanimously to keep the Policy Repo Rate unchanged at 6.5%,” says Das.
RBI Monetary Policy Live Updates: Where to watch Shaktikanta Das' address?
RBI governor Shaktikanta Das' press conference can be watched live here. You can also follow this Hindustan Times live blog for the latest updates.
RBI Monetary Policy Live Updates: Current rates
Repo rate: 6.50%
Standing deposit facility rate: 6.25%
Marginal standing facility rate: 6.75%
Bank rate: 6.75%
Fixed reverse repo rate: 3.35%
RBI Monetary Policy Live Updates: Status quo expected on repo rate
It is widely expected that the MPC will maintain status quo on the repo rate, keeping it at 6.50%. In its previous three policy meets, including the most recent one in August, the panel decided to keep the rate unchanged.
RBI Monetary Policy Live Updates: MPC decisions to be announced today
At 10, RBI governor Shaktikanta Das will unveil decisions taken at the central bank's latest Monetary Policy Committee meet, being held since Wednesday. The repo rate, left unchanged at 6.50% at the previous August meet, is expected to remain unchanged this time as well.
