RBI Announces Bi-Monthly Monetary Policy For Financial Year 2024-25; Keeps Repo Rate Unchanged For 7th Time In Row

Reserve Bank of India’s Monetary Policy Committee kept repo rate unchanged for 7th time in a row. RBI Governor Shaktikanta Das today, April 5 announced the Monetary Policy statement and kept the Repo rate at 6.5%. He said, in the current Financial Year Real GDP rate is expected at 7 per cent while CPI inflation is at 4.5 per cent. Mr. Das said India’s foreign exchange reserves reached an all-time high of $ 645.6 Billion as of March 29, 2024. Global trade is expected to improve in 2024 but remains below average, he added. On the domestic front Governor said that demand is increasing in rural areas, the unorganized sector is improving and investment is increasing. About the international scenario he said, Geopolitical conditions and high levels of public debt in emerging economies are of great concern.