Leaders Online: The Monetary Policy Committee of the Reserve Bank of India announced the bi-monthly monetary policy on Friday. RBI has kept the repo rate unchanged for the seventh time in a row. In a press conference, RBI Governor Shaktikanta Das informed that the RBI has decided to keep the repo rate at 6.5 percent as it was.
Earlier, in the credit policy review meeting held on February 8, 2023, the repo rate was reduced from 6.25 percent to 6.5 percent. The repo rate has been kept at 6.5 percent as inflation remains at a high for over a year. This is the first time in its history of two decades that the RBI has kept the repo rate 'as is' for such a long time. Earlier, during the global economic recession in 2008, the repo rate was kept at 6.5 percent for ten consecutive months.
“Fixed deposit facility rate has been maintained at 6.25 percent and marginal standing facility rate and bank rate at 6.75 percent.” Das also said.
#WATCH | On monetary policy decisions, RBI Governor Shaktikanta Das says, “The Reserve Bank decided to keep the Policy Repo Rate unchanged at 6.5%” pic.twitter.com/fKpkAaK8Q9
— ANI (@ANI) April 5, 2024
