RBI MPC Meet 2024 Highlights: Repo rate unchanged , Real GDP growth at 7.2%

RBI MPC Meet 2024 LIVE: Reserve Bank of India (RBI) Governor Shaktikanta Das is announcing the Monetary policy committee decision today.

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced the Monetary Policy Committee (MPC) decisions. India’s central bank left its benchmark interest rate unchanged, as expected, keeping its focus on inflation amid policy uncertainty following an unexpected election result. The MPC convened in Mumbai this week to deliberate on key policy decisions. This comes as food inflation has been a persistent concern, with urban areas experiencing a 1.03 per cent rise while rural areas seeing a 0.59 per cent increase in April, leading to a combined national food inflation increase of 0.74 per cent. The decision comes amid robust growth momentum as retail inflation​ hit an ​11-month low in April 2024 at 4.83 per cent​. The number has remained within RBI's tolerance band of 2-6 per cent.

RBI Monetary Policy Committee meeting: When, where to watch live

In the last meeting, the RBI decided to hold the key policy rate for the seventh consecutive time. The central bank had last changed the benchmark interest rate in February 2023.