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Just In: RBI keeps repo rate unchanged at 6.50% for second time in row

08 Jun 2023 Evaluate

In line with the market expectations, the Reserve Bank of India’s (RBI’s) monetary policy committee (MPC) in its second bi-monthly policy for FY24 has unanimously decided to keep repo rate unchanged at 6.50% for second time in a row. With this, standing deposit facility rate remained unchanged at 6.25% and Marginal standing facility (MSF) rate stand at 6.75%. 

The RBI said it will also remain focused on withdrawal of accommodation. It said headline inflation is expected to remain above 4 percent throughout the 2023-24 fiscal. It also projected FY24 GDP growth at 6.50%.