RBI Governor Shaktikanata Das, while announcing the RBI Monetary Policy Committee outcome on Friday, said that the growth is projected to be at 7.1 per cent in first quarter, followed by 6.9 per cent in second quarter and 7 per cent in both third and fourth quarters.
This is the seventh consecutive meeting that the MPC has maintained a status quo on the repo rate. The repo rate, is the interest rate at which banks draw funds from RBI to overcome short-term liquidity mismatches.
The first Monetary Policy Committee (MPC) meeting of financial year 2025 will be held on Friday, and the Reserve Bank of India is unlikely to cut rates.
Experts believe the central bank is very likely to maintain the status quo on interest rates along with caution on inflation and the geo-political outlook
Going ahead into this week, investors will closely monitor the RBI monetary policy meeting starting Wednesday, with the outcome to be pronounced on Friday morning.
The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicators.
Going ahead into this week, investors will keep track of the three-day RBI monetary policy meeting that starts today. The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicat
RBI Governor Shaktikanta Das, as part of its post monetary policy meeting remarks earlier today, said it will enable users to engage in conversation with AI-powered systems to make payments.
The Reserve Bank of India has upwardly revised the country’s retail inflation projections for 2023-24 at 5.4 per cent, against 5.1 per cent it projected in its previous monetary policy meeting in June.
Indian Stock Market remain unchanged at the end of the Wednesday. As the market closed, the Nifty and sensex was 0.5 per cent higher. Investors wait for the outcome of the US Fed Monetary Policy meeting which is yet to be announced by July 25–26 mid-night (IST).
"Our job is only half done, having brought inflation within the target band (4-6 per cent). Our fight against inflation is not yet over," said the governor at the latest monetary policy meeting held during June 6-8, whose Minutes were published on Thursday.