New Delhi. The Reserve Bank of India (RBI) has once again given importance to inflation rather than growth and has not made any change in the repo rate. This is the 9th consecutive time that the Monetary Policy Committee (MPC) of the Reserve Bank has not made any change in the repo rate. The repo rate remains at 6.5 percent as before.
Along with this, the MPC has also maintained its stance of ‘withdrawing the liberal stance’. In fact, today was the last day of the RBI Monetary Policy Committee meeting, which began on August 6 under the chairmanship of Reserve Bank of India (RBI) Governor Shaktikanta Das. After the meeting ended, the governor announced the decisions of the committee. 4 out of 6 members of the RBI Monetary Policy Committee (MPC) decided in favor of not changing the rates (repo rate).
RBI Governor Shaktikanta Das said that price stability is necessary for sustainable development. Apart from the repo rate, it has been announced to keep MSF, reverse repo rate and bank rate stable. Let us tell you that the Reserve Bank of India (RBI) last changed the repo rate in the month of February 2023 and increased it. The repo rate has remained at 6.5 percent since February 2023.
The current MSF is 6.75 percent, reverse repo rate is 3.35 percent and bank rate is 6.75 percent. Shaktikanta Das said that the Reserve Bank of India (RBI) is trying to achieve the inflation rate target of 4 percent. He said that the current global growth scenario looks positive, but the medium-term global growth scenario looks challenging.
