No change in the repo rate: RBI governor Shaktikanta Das...

The Reserve bank of India's Monetary Policy Committee (MPC) began its bi-monthly economic review on december 4, which concluded on friday, december 6, and RBI governor Shaktikanta Das announced the results at 10 am. As expected by most experts, the Reserve bank reviewed the current economic conditions on friday and announced that the repo interest rates were unchanged. The RBI has been maintaining the repo rate at 6.5% since february 2023, making it the 11th time that the repo rate has been kept unchanged, including today's meeting. There is no change in the repo rate, and it will continue at 6.5 percent for the next 2 months, RBI governor Shaktikanta Das announced.
While the repo rate has been kept unchanged at 6.5%, the standing deposit facility (SDF) rate has been kept unchanged at 6.25% and the MSF and bank rate at 6.75%. The MPC has also announced that it will keep its monetary policy stance at 'neutral', showing its commitment to keeping the country's inflation at its target. This will also support the country's growth. In his speech, RBI governor Shaktikanta Das said that monetary policy is important as it affects the lives of people. "The RBI's efforts are all about pursuing flexible inflation," he said. "Price stability is important, but growth is also important," he said. RBI governor Shaktikanta Das clarified to investors that the weaknesses in the country's manufacturing sector are not widespread across all sectors and the challenges are limited to specific areas.
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Sowmiya Sriram

06/12/2024 10:33 AM