LIVE

RBI MPC Meeting Highlights: RBI Keeps Repo Rate Unchanged At 6.5%; FY25 GDP Growth Projected at 7.2%

RBI Monetary Policy Outcome: The Reserve Bank of India (RBI) has decided to maintain its current policy rates, opting for a status quo approach. However, the central bank has changed its monetary policy stance to neutral, indicating a balanced outlook for future rate adjustments.

RBI MPC Meeting Highlights RBI Keeps Repo Rate Unchanged At 65 FY25 GDP Growth Projected at 72
In the Reserve Bank of India (RBI) Monetary Policy Meeting, the Monetary Policy Committee (MPC) announced its decision to keep the policy rate unchanged at 6.5%. This decision was reached with the agreement of five out of six members after assessing current macroeconomic conditions and future projections. However, the central bank has changed its monetary policy stance to neutral, indicating a balanced outlook for future rate adjustments.
Oct 9, 2024 16:46 IST

RBI MPC Meeting

Keshav Mangla, General Manager Business Development, Forteasia realty, said, "For instance, the result of stable interest rates may not necessarily be the most favorable for homebuyers and developers as it cuts off the advantage that comes with decline in interest rates. On the other hand, with the onset of the festive season which is characterized by a matter of fact annual surge in property sales, the sector is likely have to offer additional cuts in pricing in order to stimulate sales."
Oct 9, 2024 16:09 IST

RBI Monetary Policy Meeting

'The enhancements in UPI limits, particularly for UPI Lite, will make digital payments more accessible and efficient for consumers, driving further financial inclusion. Additionally, the projected decline in inflation, backed by favorable monsoon conditions, is a positive sign for the financial sector, creating a balanced environment for both borrowers and lenders to benefit from,' said, Geeta Goswami, CEO of Usha Financial Services Limited
Oct 9, 2024 15:54 IST

RBI MPC Meeting

Aman Gupta, Director, RPS Group, said, "The RBI's neutral stance after a prolonged period of holding the repo rate at 6.5% indicates a cautious yet optimistic approach towards managing inflation and growth. In addition, while this decision reduces volatility in borrowing rates which are of concern to real estate contractors and individuals, it also calls for budgeting because the threat of inflation still exists."
Oct 9, 2024 15:16 IST

RBI MPC Meeting

Sharad Mittal Founder & CEO, Arnya Realestates Fund Advisors, said, "The Reserve Bank of India (RBI) 's decision to keep the repo rate unchanged underscores the RBI's commitment to economic stability amid ongoing inflationary pressures and global uncertainties. By shifting its policy stance to neutral, the RBI indicates the possibility of future rate cuts, enhancing borrowing conditions."
Oct 9, 2024 14:22 IST

RBI MPC Meeting

"The RBI’s move to hold the repo rate at 6.5%, along with the robust GDP growth and rising investment levels, indicates a strong and stable economic environment for businesses. The increased limits for UPI transactions will further accelerate digital adoption, which aligns with our commitment to enhancing smart technology solutions," said, Pankaj Jha, Managing Director MAXHUB India.
Oct 9, 2024 14:20 IST

RBI Monetary Policy Meeting

LC Mittal, Director, Motia Group, said, "The RBI's decision to keep the repo rate unchanged for the tenth time at 6.5% is acknowledged to be a reasonable move under the current circumstances given high inflationary tendencies. The shift to a neutral stance signals the RBI’s commitment to aligning inflation with growth, ensuring that the market conditions remain favorable for sectors like real estate."
Oct 9, 2024 14:19 IST

RBI MPC Meeting

"In this case, there was nothing particularly surprising in what RBI Governor Das said regarding the repo rate remaining unchanged at 6.5%. Especially considering the RBI, Das said that in the environment of uncertainty existing at the time. This shift towards neutral posture is somewhat soft speaking, it’s a preparatory change it makes for easing policy," said, Anurag Goel, Director at Goel Ganga Developments
Oct 9, 2024 12:58 IST

RBI MPC Meeting

Mr. Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com, said, "The RBI's decision to hold the repo rate unchanged at 6.5% for the 10th time in a row is on expected lines as the apex bank tries to maintain a balance between inflation and growth. However, the banking regulator's changing of policy stance from ‘withdrawal of accommodation’ to 'neutral' signals the RBI could initiate rate cuts in the upcoming policy meets."
Oct 9, 2024 12:54 IST

RBI Policy Meeting Outcome

"The Reserve Bank of India’s decision to maintain the repo rate at 6.5% amidst strong GDP growth reflects a stable and resilient economic landscape. Additionally, the enhancement of UPI transaction limits and growth in the manufacturing sector, driven by improving demand and supportive policies, will further accelerate digital payments and business efficiency across sectors," said, Ayush Gupta, CEO & Co- Founder of SwopStore.
Oct 9, 2024 12:09 IST

RBI MPC Meeting

"The RBI has once again decided to hold the repo rate for the tenth consecutive time. It brings cheers among the homebuyers as the relatively affordable home loan interest rate regime will continue during the festive season. This means if you have already applied for a home loan your EMI burden will not go up for the next couple of months", said Rajiv Agrawal, Co-Founder, Saarathi Realtors.
Oct 9, 2024 12:08 IST

RBI Policy Meeting

"In the RBI’s policy review , it was decided once again to keep the policy rate stable at 6.5% and the bottle is one available option after the 9th hike justification. By going for a neutral stance they dispense with the necessity or the ability to undertake any policy action even in the future, it is more flexible. The stable forecast on the GDP growth and inflation rates for FY25 still entails the possibility of India's growth recovery over the medium-term based on prudent assumptions," said, Gurmit Singh Arora, National President, Indian Plumbing Association.
Oct 9, 2024 11:18 IST

RBI Monetary Policy Meeting

Mr. Yashank Wason, Managing Director, Royal Green Realty, said, "By maintaining the repo rate, the RBI ensures continued confidence among homebuyers and provides a stable environment for home loan borrowers. This consistency will support the ongoing growth of the real estate sector, positively impacting India's GDP and contributing to a favorable economic outlook."
Oct 9, 2024 11:16 IST

RBI MPC Meeting

Anil Giri, Secretary of Pragati Gramin Vikash Sangathan, said, "The decisions made by the RBI Monetary Policy Committee are crucial for rural development and financial inclusion. Supporting rural economies with stable interest rates and growth-focused measures will empower local communities, drive sustainable development, and help uplift livelihoods across underserved regions."
Oct 9, 2024 11:15 IST

RBI Policy Meeting

Mr Vimal Nadar, Head of Research, Colliers India, said, "While RBI has kept the benchmark lending rates unchanged at 6.5%, a change in stance from “withdrawal of accommodation” to “neutral” indicates its clear direction for a possible reduction in interest rates in the foreseeable future. Typically, Q4, marked by higher inclination of homebuyers to wrap-up property purchases during the auspicious period combined with instantaneous liquidity benefit aided by developers offering attractive discounts, has historically provided the final push to housing sales across the major markets in the country."
Oct 9, 2024 11:06 IST

RBI MPC Meeting

Ms. Anitha Rangan, Economist, Equirus, said, "As a first step towards getting closer to rate accommodation, RBI changes its stance to “neutral” from withdrawal of accommodation. The policy is however unchanged at 6.5%. Nevertheless, the vote was 5-1 for keeping policy unchanged. RBI noted that current and estimated dynamics of growth-inflation balance is driving the change in stance. Within this RBI’s growth and inflation target for FY25 is unchanged at 7.2% and 4.5%."
Oct 9, 2024 10:19 IST

RBI Monetary Policy Meeting: RBI Governor On GDP Growth Rate

The Reserve Bank of India (RBI) Governor has announced a projected GDP growth rate of 7.2% for the fiscal year 2025.
Oct 9, 2024 10:17 IST

RBI MPC Meeting Live: Sensex And Nifty Trade In Green

Sensex surged by more than 400 points, while the Nifty gained over 100 points, following the Reserve Bank of India's Monetary Policy Committee's decision to adopt a 'neutral' stance.
Oct 9, 2024 10:12 IST

RBI MPC Live Updates

In the Reserve Bank of India (RBI) Monetary Policy Meeting, the Monetary Policy Committee (MPC) announced its decision to keep the policy rate unchanged at 6.5%. This decision was reached with the agreement of five out of six members after assessing current macroeconomic conditions and future projections.
Oct 9, 2024 10:08 IST

RBI Policy Meeting Outcome

The Reserve Bank of India (RBI) has decided to maintain its current policy rates, opting for a status quo approach. However, the central bank has changed its monetary policy stance to neutral, indicating a balanced outlook for future rate adjustments.
Oct 9, 2024 10:04 IST

RBI MPC Meeting Live Updates: RBI MPC Policy Outcome

RBI Holds Repo Rate at 6.50%
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