RBI keeps repo rate unchanged at 6.5%, slashes CRR to 4 percent
New Delhi/IBNS: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
RBI governor Shaktikanta Das made the announcement on Friday.
This is the 11th consecutive time when the repo rate has been kept unchanged.
The RBI has kept the repo rate unchanged at 6.5% since February 2023, when it last increased the rate to its current level.
The central bank is tasked with maintaining consumer price index (CPI)-based inflation at 4%, with a 2% margin on either side.
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor - December 06, 2024, at 10 am https://t.co/ffu20k9GVl
— ReserveBankOfIndia (@RBI) December 6, 2024
In an off-cycle meeting in May 2022, the MPC raised the repo rate by 40 basis points, followed by additional hikes through February 2023, cumulatively increasing the rate by 250 basis points during this period.
The MPC comprises Nagesh Kumar, Director and Chief Executive at the Institute for Studies in Industrial Development; Saugata Bhattacharya, Economist; Ram Singh, Director at Delhi School of Economics; Rajiv Ranjan, RBI Executive Director; Michael Debabrata Patra, RBI Deputy Governor; and Shaktikanta Das, RBI Governor.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Russian teens can’t stop talking about this 'miracle' weight loss pill. But why are doctors worried?
‘Floating Terrors’ wash ashore! Urgent warning for beachgoers in UK's Wales
ED takes more actions against Anil Ambani Group, seizes Knowledge City land among key assets
Air India San Francisco–Delhi flight makes precautionary landing in Mongolia after technical alert
