The Reserve Bank of India’s MPC has kept repo rates unchanged at 6.5 percent, RBI Governor Shaktikanta Das announced on December 8. Check all important details given below.
Rates and Inflation
- Repo rate unchanged at 6.5%
- Inflation control remains a major focus
- Food prices expected to rise in coming months
- Headline inflation receded but remains above target in many countries
- Core inflation sticky
- Retail inflation projected at 5.4% for FY 2024
Economic Growth
- Indian economy shows resilience and momentum
- Q2 GDP exceeded all forecasts
- Fiscal consolidation on course
- External balance manageable
- Real GDP growth projected at 7% for FY 2024
Other Highlights
- UPI payment limits for hospitals and educational institutions raised to Rs 5 lakh
- Policy stance remains “withdrawal of accommodation”
- Nifty reached 21,000 for the first time
- RBI committed to further building on economic fundamentals
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