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गडचिरोली शहरात, प्रथमच आपल्या सेवेत...
09-10-2024
The Reserve Bank of India (RBI) Monetary Policy
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) on October 9, 2024, decided to keep the policy repo rate unchanged at 6.50% for the 10th consecutive time. This decision was aimed at taming inflation, which had been a concern for the central bank.
Here are some key highlights of the RBI's monetary policy:
Repo rate unchanged: The repo rate, which is the rate at which the RBI lends money to commercial banks, was kept unchanged at 6.50%. This means that the cost of borrowing for businesses and individuals will remain the same.
Stance changed to neutral: The RBI changed its stance of monetary policy to "neutral" from "withdrawal of accommodation." This indicates that the central bank is neither tightening nor easing monetary policy.
GDP growth estimates retained: The RBI retained its GDP growth estimates for FY25 at 7.2%.
CPI inflation at 4.5%: The RBI expects CPI inflation to be at 4.5% in FY25.
The RBI's decision to keep the repo rate unchanged was widely expected by analysts, as the central bank had been maintaining a cautious stance to balance inflationary concerns with the need for economic growth.
The decision to change the stance to neutral suggests that the RBI is confident that inflation is under control and that the economy is on a stable growth path.
Overall, the RBI's monetary policy decision was seen as a positive development for the Indian economy. The unchanged repo rate will provide relief to borrowers, while the neutral stance suggests that the central bank is not planning to tighten monetary policy in the near future.
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