RBI MPC Keeps Repo Rate Unchanged At 6.5%

The Reserve Bank of India in its Monetary Policy Committee (MPC) led by Governor Shaktikanta Das has decided to keep the repo rates unchanged at 6.50 percent.

This is the seventh time that the 6 member Monetary Policy Committee has decided to keep the key rates unchanged.

This is the first Monetary Policy of the financial year 2024-25. The three-day MPC review meeting, which commenced on April 3, Wednesday, and concluded today, April 5.

Consequently, the Marginal Standing Facility (MSF) rate and the bank rate were at 6.75 per cent and the Standing Deposit Facility (SDF) rate remained at 6.25 per cent.

RBI Governor Shaktikanta Das elaborated on the decision, stating that inflation has decreased from its peak of 5.7%. He noted favorable growth-inflation dynamics and a steady decline in core inflation, reaching its lowest point in nine months. Despite volatile food inflation in February, core inflation, excluding food and fuel, has shown a downward trend. Concerns remain regarding the impact of weather variations on inflation and economic stability.

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