RBI’s Bi-Monthly Monetary Policy 7th June 2024 – Key Highlights

The Monetary Policy Committee (MPC) met on 5th, 6th and 7th June 2024. After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, it decided by a 4 to 2 majority to keep the policy repo rate unchanged at 6.50 per cent. Consequently, the standing deposit facility (SDF) rate remains at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The MPC also decided by a majority of 4 out of 6 members to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.

RBI Monetary Policy 5th April 2024: Key Highlights

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced the first monetary policy of the financial year 2024-25. The two-day review meeting of the RBI’s Monetary Policy Committee (MPC), the rate-setting panel, commenced on April 3 and concluded today, April 5. The RBI decided to keep the key policy repo rate unchanged at 6.5% for the seventh consecutive time. The six-member MPC headed by Governor Das also decided to maintain the policy stance at ‘withdrawal of accommodation’.

Statement on Developmental and Regulatory Policies

RBI Governot has announced several additional regulatory measures through Statement on Developmental and Regulatory Policies.

RBI’s Bi-Monthly Monetary Policy Dt. 8th February 2024 – Key Highlights

The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has kept repo rates unchanged at 6.5 percent. It has also decided to remain focused on the withdrawal of the accommodative stance, Governor Shaktikanta Das said. This is the sixth consecutive unchanged decision and comes after the Interim Budget was announced on February 1, 2024.

Interim Budget 2024 – Key Highlights and Impact on various sector

India’s Finance Minister Nirmala Sitharaman presented the much-anticipated Interim Budget, outlining the government’s spending plans. Overall Focus of the Budget :
• Meeting the needs and aspirations of the poor, women, youth, and farmers
• Making India a “Viksit Bharat” (Developed India) by 2047
• Focusing on “sabka sath, sabka vikas” (inclusive development)
• Prioritising “GDP” – Governance, Development, and Performance
• All-round, all-pervasive, and all-inclusive approach to development

Finance Ministry releases “The Indian Economy: A Review – January 2024” instead of ‘Economic Survey 2023-24’ ahead of Interim Budget 2024-25

Every year, a day before the presentation of the budget document, the central government presents an Economic Survey. However, a survey will not be presented on January 31, the budget being of an interim nature and in light of the upcoming elections. A complete budget and the Economic Survey will be presented in July, when the results are declared and a new cabinet is appointed. Chief Economic Adviser V Anantha Nageswaran outlines India’s potential to reach a $7 trillion economy by 2030 in the recently released mini-annual Economic Survey titled ‘The Indian Economy: A Review,’ .

RBI’s Bi-Monthly Review Meeting 6th October 2023 – Key Highlights

The Monetary Policy Committee (MPC)—chaired by Reserve Bank of India (RBI) Governor Shaktikanta Das—decided unanimously to keep the repo rate unchanged at the existing 6.5 per cent at the end of its three-day, bi-monthly deliberations on October 6

Portfolios of Deputy Governors

Consequent on the appointment of Shri Swaminathan Janakiraman as Deputy Governor, the following will be the portfolios of the Deputy Governors with effect from June 26, 2023:

RBI’s Financial Stability Report, June 2023 – Highlights

Financial Stability Report (FSR), reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the Indian financial system. RBI released the FSR on 28th June 2023

RBI’s Bi-Monthly Monetary Policy Review 8th June 2023 – Highlights and Key Takeaways

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Thursday the 8th June 2023, kept the policy repo rate unchanged at 6.5 per cent in a unanimous decision. Governor Shaktikanta Das, while announcing the MPC decision, said that the central bank has retained the withdrawal-of-accommodation stance. This was second time in a row that the RBI opted for a pause in rate hike. The central bank has retained growth projection at 6.5 per cent for FY24, expects 8 per cent growth in Q1, 6.5 per cent in Q2, 6 per cent in Q3, while 5.7 per cent in Q4. “Domestic demand condition remains supportive of growth, while rural demand on revival path,” the governor said.