RBI Monetary Policy Review: Repo Rate Unchanged, Stance Neutral

Oct 09, 2024 11:40

The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% and changed the monetary policy stance to 'neutral'. Learn more about the key highlights of the bi-monthly monetary policy review.

Photograph: ANI Photo

Mumbai, Oct 9 (PTI) Following are the highlights of the Reserve Bank's Monetary Policy Committee (MPC) decisions announced by Governor Shaktikanta Das on Wednesday:

* Benchmark short-term lending rate (repo) kept unchanged at 6.5 pc;

* Status quo on rate since February 2023;

* Monetary policy stance changed to 'neutral';

* It was the first meeting of reconstituted MPC;

* GDP growth projection for FY25 retained at 7.2 pc;

* GDP growth forecast for Q2 at 7 pc; Q3 at 7.4 pc; and Q4 at 7.4 pc;

* Inflation projection for FY25 retained at 4.5 pc;

* UPI123PAY (for feature phone) per transaction limit doubled to Rs 10,000;

* UPI Lite wallet limit increased to Rs 5,000 and per-transaction limit hiked to Rs 1,000;

* Next meeting of MPC scheduled during December 4 to 6.

Source: PTI

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RBI Monetary Policy Review: Repo Rate Unchanged, Stance Neutral

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