The Monetary policy committee report released by Central Bank authority has maintained the status quo for interest rates. The repo rate points are stable for continuous two sessions.
The MPC meeting headed by the RBI governor has focused on India's potential growth and recommended keeping the repo rate unchanged at 6.5 percent. Some other key points are listed below.
This is the sixth Meeting in line where the committee has maintained the status quo on the repo rate. The GDP growth for FY25 is estimated to be at 7 percent lower than 7.3 percent of current fiscal year.
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While retail inflation stood average at 5.4 percent this fiscal year and 4.5 percent to be for FY25. Meanwhile, monetary transmission by financial institutions still remains incomplete.
RBI is planning to introduce an offline functionality in CBDC- Retail for transactions in areas with poor or limited internet connectivity. Also, it will review the regulatory framework for electronic trading platforms to enable market makers access offshore ETPs offering permitted Indian Rupee products. Whereas exchange rate of Indian rupee remained normal and stable in the current fiscal.