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In the latest Reserve Bank of India (RBI) monetary policy committee (MPC) meeting, Governor Shaktikanta Das announced the decision to maintain the policy repo rate at 6.5%, marking the fifth consecutive time of status quo. The Standing Deposit Facility rate remains at 6.25%, with the Marginal Standing Facility rate and the Bank Rate at 6.75%.
Additionally, Governor Das revealed an upward revision of the GDP growth projection for the current financial year from 6.5% to 7%. The MPC, by a majority of five out of six members, also emphasized the focus on withdrawing accommodation to align inflation with the target while supporting economic growth.
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