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RBI MPC 2024: Reserve Bank Keeps Repo Rate Unchanged - What Are Other Key Announcements?
Updated Aug 8, 2024, 11:15 IST
RBI MPC 2024: Reserve Bank Keeps Repo Rate Unchanged - What Are Other Key Announcements? (Image Source: iStock)
Key Announcements of RBI MPC Meeting 2024
GDP Growth Forecast
The RBI also kept its GDP growth forecast for FY25 steady at 7.2 per cent.CPI Inflation Projection
The Central Bank has kept its CPI inflation projection at 4.5 per cent.Reverse Repo Rate
The reverse repo rate, which is the rate at which banks deposit money with the RBI, remains at 3.35 per cent.Standing Deposit Facility
The Standing Deposit Facility (SDF) is at 6.25 per cent.Marginal Standing Facility
The Marginal Standing Facility (MSF) and Bank Rates are at 6.75 per cent.Cash Reserve Ratio
The Cash Reserve Ratio (CRR) is at 4.5 per cent.Statutory Liquidity Ratio
The Statutory Liquidity Ratio (SLR) stands at 18 per cent.What is SDF and MSF?
The SDF represents the lower end of the interest rate range, while the MSF is at the upper end.RBI MPC 2024: What Shaktikanta Das Said?
In his announcement, RBI Governor Shaktikanta Das highlighted that India's economic growth remains strong and inflation is decreasing. He mentioned that while the global outlook seems positive in the short term, the medium-term outlook is more challenging. He also noted that any expected drop in inflation might reverse in the third quarter.
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Pawan Kumar is a Copyeditor for the business vertical of Times Now Digital. With a keen eye for impactful business news, he specialises in financial m...View More
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