RBI Maintains Repo Rate At 6.5% Amid Unchanged Growth & Inflation Projections

The RBI Monetary Policy Committee has opted to keep the primary policy repo rate steady at 6.5 per cent. This marks the fourth consecutive meeting in which the MPC has chosen to maintain the existing repo rate. 

The last adjustment to this rate was an increase from 6.25 per cent to 6.50 per cent during the February 2023 meeting. The MPC has made a 5-1 decision to uphold the policy stance. During the announcement of the bi-monthly monetary policy, RBI Governor Shaktikanta Das stated that the Real GDP growth projection for FY24 remains at 6.5 per cent, with no changes. 

Likewise, the projected inflation rate for FY24 stands at 5.4 per cent, remaining unchanged from previous projections. Governor Das emphasised the critical importance of averting food and fuel price shocks as non-negotiable priorities.