The Reserve Bank of India’s Monetary Policy Committee has decided not to change the repo rate even during the second meeting of the financial year 2024.
Reserve Bank Governor Shaktikanta Das announced that there will be no change in the repo rate. This means that it will remain at 6.50 per cent.
Last time during the MPS meeting of RBI held in April, there was no change in the repo rate. However, from May 2022 to March i.e. during the last financial year, the repo rate was increased by 2.50. Let us know what big announcements have been made by the RBI Governor.
What big announcements did Governor Shaktikanta Das make?
- The Reserve Bank has not made any change in the repo rate and it remains at 6.50 percent.
- Standing deposit facility rate remains unchanged at 6.25 per cent
- The Marginal Standing Facility rate and the Bank Rate are also unchanged and stand at 6.75 per cent.
- The RBI governor said that the CPI inflation rate is still above the RBI’s target of 4 per cent and is expected to remain above it till 2023-24 as per estimates.