RBI’s Monetary Policy Committee maintains status quo, Repo Rate kept unchanged
Amid severe geopolitical uncertainities, RBI Governor Shaktikanta Das today said, "...The Monetary Policy Committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5%. Consequently, the standing deposit facility (SDF) rate remains at 6.25%, and the marginal standing facility (MSF) rate and the bank rate at 6.75%...".
"Domestic economic activity continues to be resilient. On the supply side, steady progress in southwest monsoon, higher cumulative Kharif sowing and improving reservoir levels auger very well for Kharif output...Manufacturing activity continues to gain ground on the back of improving domestic demand", he added.
The RBI Governor also added that inflation after remaining steady at 4.8 percent during April and May increased to 5.1 percent in June. "Real GDP growth for 2024-25 is projected at 7.2% with Q1 at 7.1%, Q2 at 7.2%, Q3 at 7.3%, and Q4 at 7.2%. Real GDP growth for Q1 of 2025-26 is projected at 7.2%", he reiterated.
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