Post Name : RBI Monetary Policy 2024 Live Updates, Date and Time
Post Date : 09 February , 2024
Post Description : Candidates can check the live updates of RBI Monetary Policy 2024, Repo rate remain unchanged at 6.5%.
RBI Monetary Policy
In India, RBI Monetary Policy is aimed at managing the quantity of money to meet the requirements of different sectors of the economy and to increase the pace of economic growth. The RBI implements the monetary policy through open market operations, bank rate policy, reserve system, credit control policy, moral persuasion and through many other instruments. Using any of these instruments will lead to changes in the interest rate, or the money supply in the economy. Monetary policy can be expansionary and contractionary in nature. Increasing money supply and reducing interest rates indicate an expansionary policy. The reverse of this is a contractionary monetary policy.
RBI Monetary Policy Today
RBI Governor Press Conference Highlights: “I cannot give any forward guidance on what are the pre-conditions for the stance of policy to be changed to neutral. There are a lot of uncertainties. In such an environment, we can’t give any forward guidance,” Shaktikanta Das said, during the RBI press conference.
Most of the questions during the media interaction focused on RBI’s action against Paytm Payments Bank. Officials of the central bank explained that the measure is based on “continued non-compliance” by the lending arm of Paytm.
RBI Monetary Policy 2024
RBI Monetary Policy Remarks, RBI MPC Meeting February 2024 News and Highlights: The Reserve Bank of India’s Monetary Policy Committee has decided to keep the policy repo rate unchanged at 6.5%. The six-member committee decided by a 5-1 majority to keep the repo rate unchanged at its latest meeting on the 24th, as retail inflation remains above the 4% target. This is the sixth meeting on the trot where the MPC has maintained the status quo on the repo rate (the rate at which banks borrow money from the RBI to bridge short-term liquidity). CPI is projected at 5.4% in FY24, while it is likely to be 4.5% in FY25. RBI pegged real GDP growth at 7% in FY25. On the Paytm issue, RBI governor Shaktikanta Das said the central bank has been silent on Paytm for some time and any regulatory action is in the interest of system stability and customers.
RBI Monetary Policy 2024 Live Update
- 6.5% remains the benchmark interest rate or repo rate.
- GDP growth in FY25 is predicted to be 7%, down from 7.3% in current fiscal year. Retail inflation is expected to average 5.4% in this fiscal year and drop to 4.5% in FY25.
- Financial institutions’ monetary transmission is still lacking.
- Continue the current economic momentum throughout the upcoming fiscal year
- Recovering rabi sowing, maintaining industrial profitability, and services’ capacity to sustain economic activity in FY25
- A stronger investment cycle and indications of a rebound in private sector capital expenditures
- The Indian economy is growing steadily and confidently along a robust and sustainable path.
- While urban consumption is still high, rural demand is nevertheless increasing.
- Government on a course of budgetary consolidation; robust domestic economic activity
- Headline inflation is still impacted by food price uncertainty.
- Rising geopolitical tensions are affecting the supply chain and putting pressure on commodity prices. convenient to meet foreign obligations
- The domestic financial system remains flexible if the balance sheet is good. The
- INR exchange rate has remained stable enough during the current fiscal
- RBI to review regulatory framework for electronic trading platforms to allow market makers access to foreign ETPs offering permitted INR products.
- RBI has asked lenders to submit Key Information (KFS) as per the terms of the loan agreement. with the total interest cost for borrowers of both retail and small and medium-sized loans
- The next meeting of the Monetary Policy Committee (MKK) will be held on 03 to 05 April, 2024.
