Governor of Reserve Bank of India Shaktikanta Das announced the monetary policy on Friday and said the central bank has decided to keep the policy repo rate unchanged at 6.5 per cent.
Shaktikanta Das said, “The monetary policy committee decided unanimously to keep the policy repo rate unchanged at 6.5 pc. Consequently, the standing deposit facility rate remains at 6.25 pc and the marginal standing facility rate and the bank rate at 6.75 pc.” This is the fifth time in a row the central bank has retained the repo rate as it maintains a tight vigil on inflation. Das said monetary policy will remain "actively disinflationary".
Shaktikanta Das said the GDP growth projection for current fiscal has been raised to 7 pc from 6.5 pc earlier. The central bank has projected 5.4 pc retail inflation for FY'24. “RBI sees retail inflation in Q3 of FY'24 at 5.6 pc and 5.2 pc in Q4,” the governor said.
Das said RBI will lay down guidelines for web aggregators of loan products to bring more transparency in digital lending. He also said RBI will set up a cloud facility for the sector.
