Category Rate Policy Repo Rate 6.5% Fixed Reverse Repo Rate 3.35% Standing Deposit Facility (SDF)Rate 6.25% Marginal Standing Facility (MSF) Rate 6.75% Bank Rate 6.75% Cash Reserve Ratio (CRR) 4.50% Statutory Liquidity Ratio (SLR) 18%Answer-The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met on June 5 -7, 2024 and released its second Bi-Monthly Monetary Policy of Financial Year 2024-25 (FY25) which raised India’s real Gross Domestic Product growth forecast from 7% to 7.2% for FY25.RBI’s Policy Rates :• RBI has projected the real GDP for Q1 at 7.3%, Q2 at 7.2%, Q3 at 7.3% and Q4 at 7.2%.
• The repo rate under the Liquidity Adjustment Facility (LAF) was kept unchanged at 6.50% for the 8th consecutive time.
• Consumer Price Index (CPI) or retail inflation for 2024-25 is projected at 4.5 % with Q1 at 4.9%, Q2 at 3.8%, Q3 at 4.6% and Q4 at 4.5%.
• RBI’s report showed that India’s forex reserves jumped USD 4.837 billion to a new all-time high of USD 651.51 billion for the week ended May 31,2024.
• RBI has announced the inclusion of auto replenishment facility of FASTag, National Common Mobility Card (NCMC) and United Payments Interface (UPI) Lite wallet balances under the e-mandate facility.Click here to read more
Category Rate Policy Repo Rate 6.5% Fixed Reverse Repo Rate 3.35% Standing Deposit Facility (SDF)Rate 6.25% Marginal Standing Facility (MSF) Rate 6.75% Bank Rate 6.75% Cash Reserve Ratio (CRR) 4.50% Statutory Liquidity Ratio (SLR) 18%
Answer-The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met on June 5 -7, 2024 and released its second Bi-Monthly Monetary Policy of Financial Year 2024-25 (FY25) which raised India’s real Gross Domestic Product growth forecast from 7% to 7.2% for FY25.RBI’s Policy Rates :
• RBI has projected the real GDP for Q1 at 7.3%, Q2 at 7.2%, Q3 at 7.3% and Q4 at 7.2%.
• The repo rate under the Liquidity Adjustment Facility (LAF) was kept unchanged at 6.50% for the 8th consecutive time.
• Consumer Price Index (CPI) or retail inflation for 2024-25 is projected at 4.5 % with Q1 at 4.9%, Q2 at 3.8%, Q3 at 4.6% and Q4 at 4.5%.
• RBI’s report showed that India’s forex reserves jumped USD 4.837 billion to a new all-time high of USD 651.51 billion for the week ended May 31,2024.
• RBI has announced the inclusion of auto replenishment facility of FASTag, National Common Mobility Card (NCMC) and United Payments Interface (UPI) Lite wallet balances under the e-mandate facility.Click here to read more
