RBI Monetary Policy Meeting 2024: Reserve Bank of India Keeps Repo Rate Unchanged for 10th Time in a Row (Watch Video)
The Reserve Bank of India on Wednesday decided to keep the policy rate unchanged for the tenth time in a row but changed its stance to 'neutral' that may lead to a cut in the forthcoming policies.
Mumbai, October 9: The Reserve Bank of India on Wednesday decided to keep the policy rate unchanged for the tenth time in a row but changed its stance to 'neutral' that may lead to a cut in the forthcoming policies. RBI maintained status quo despite the US Federal Reserve lowering the benchmark rates by 50 basis points last month. The central banks of some developed nations have also reduced their interest rates. RBI Monetary Policy Meeting 2024: Repo Rate Likely To Remain Unchanged, Governor Shaktikanta Das To Announce Decision Today.
Announcing the fourth bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent. The RBI has maintained status quo on benchmark interest rate since February 2023. Das said RBI will remain watchful of elevated food inflation even when India GDP growth remains strong. RBI Says September Sees Most IPOs in 14 Years With Over 28 Companies Entering Market.
RBI Keeps Policy Rate Unchanged
This was the first meeting of the reconstituted MPC. The three newly appointed external members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. The MPC was reconstituted by the government last month.
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