RBI Monetary Policy Review: Repo Rate Unchanged, Stance Neutral

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.