Mumbai: The Reserve Bank of India (RBI) on Thursday did not change the key policy rate repo and retained it at 4 per cent. This means that there will be no change in the monthly installment of the loan. At the same time, the RBI maintained a liberal stance amid the high rate of inflation. That is, there is no possibility of an increase in the policy rate at the moment. This is the 10th time in a row that the Monetary Policy Committee headed by RBI Governor Shaktikanta Das has not made any change in the repo rate.
At the same time, on May 22, 2020, with the intention of stimulating demand, the repo rate was reduced to a record low level. Giving information about the decision of the MPC, the RBI Governor said that the committee has kept the reverse repo rate unchanged at 3.35 percent. He also said that the fundamentals of the economy remained strong and the country continues to be among the economies with strong economic growth.
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Real GDP growth for 2022-23 is projected at 7.8%: Reserve Bank of India Governor Shaktikanta Das pic.twitter.com/vk0fIH3iIT
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Shaktikanta Das said that the CPI inflation for 2022-23 is projected to be 4.5%. He also said that the real GDP growth for 2022-23 is estimated to be 7.8%. He said that the repo rate will remain at 4% with no change. The MSF rate and Bank rate will remain unchanged at 4.25%. The reverse repo rate will also remain unchanged at 3.35%. (with agency input)