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.
The Reserve Bank of India in its three-day monetary policy committee meeting unanimously decided to keep the repo rate unchanged at 6.5 per cent, something most financial markets had expected.
“Managing global debt vulnerabilities is a significant priority area for 2023, reflecting the Indian Presidency’s endeavour to voice the concerns of the Global South,” the outcome document of the meeting read.
Reserve Bank of India Governor Shaktikanta Das met World Bank President Ajay Banga during the G20 Summit in Gandhinagar, Gujarat and discussed various issues.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday met with Thomas Jordan, the Chairman of Governing Board, Swiss National Bank, during the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
Evidence and analysis are core inputs in policy formulation, Reserve Bank of India Governor Shaktikanta Das said on Friday and noted that policymaking and monitoring processes have increasingly become more data-intensive
"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.
India's economic growth in the past few years is mainly driven by robust domestic demand and the country will continue to remain among the fastest-growing large economies in 2023, said Reserve Bank of India Governor Shaktikanta Das.