Latest Update: FY24 GDP Growth Estimate Holds at 6.5%; CPI Outlook Adjusted to 5.4%
Live Meeting: RBI Monetary Policy The RBI (Reserve Bank of India) kept the repo rate unchanged at 6.5% today.
The RBI Monetary Policy Committee (MPC) maintained a status quo on interest rates in the previous two policies.
The repo rate was raised by 250 basis points (bps). The Reserve Bank of India Governor, Shaktikanta Das, raised the repo rate.
The third bimonthly monetary policy for FY24 was announced today by Reserve Bank of India Governor Shaktikanta Das.
The Monetary Policy Committee’s three-day meeting of the six members was held from August 8 to 10. The repo rate is unchanged at 6.5%, as kept by the RBI.
Conversational payments in UPI are proposed by RBI
The governor of the Reserve Bank of India, Shaktikanta Das, announced that the transaction limit for small-value payments made offline has been increased from 200 to 500. The conversational payments in UPI proposed by the RBI Reserve Bank of India and offline payments in UPI using near-field technology via UPI Lite, introduced by the central bank,
The withdrawal of the 2000 note is a temporary fix
At the MPC meeting on Thursday, RBI Governor Shaktikanta Das stated that the withdrawal of the 2000 note is a temporary measure. There will be sufficient liquidity in the system after all Rs. 2,000 denominations have been withdrawn from the country.
The RBI decided to withdraw the 2000-denomination bank notes from circulation in the month of May this year and said all notes must be exchanged before the month of September 30 this year.
The bank needs to maintain an incremental CRR of 10%
RBI Governor Shaktikanta Das announced the bank needs to maintain an incremental CRR of 10% on the increase in their NDTL between the days of May 19 and July 28 and starting from August 12.
The CPI inflation forecast for FY24 raised to 5.4% from 5.1%
CPI inflation rate for the april-june quarter of 2024 is projected at 52%, said the RBI Governor
CPI inflation forecast for Q2FY24 raised to 6.2% from 5.2%
CPI inflation forecast for Q3FY24 raised to 5.7% from 5.4%
CPI inflation forecast for Q4FY24 retained 5.2%
The GDP growth for April–June 2024 seen at 6.6%
The GDP growth for April–June 2024 is seen at 6.6%, said the RBI Governor
GDP growth projections for FY23–24 are retained at 6.5%
The GDP forecast for FY24 is 6.4%
The GDP forecast for Q1FY24 is at 8%
The GDP forecast for Q2FY24 is at 6.5%
The GDP forecast for Q3FY24 is at 6.4%
The GDP forecast for Q4FY24 is at 6.4%
Be the first to comment