Big Announcement from RBI... For the fifth time in a row, the repo rate has not changed; see the full announcement information here

 Big Announcement from RBI... For the fifth time in a row, the repo rate has not changed; see the full announcement information here

Big Announcement from RBI... For the fifth time in a row, the repo rate has not changed; see the full announcement information here

RBI Monetary Policy: Following the announcement of the Reserve Bank of India's monetary policy today, it was decided to hold off on raising the repo rate for a fifth consecutive day.

RBI Monetary Policy: Governor Shaktikanta Das of the Central Bank has left the repo rate unchanged for the fifth time in a row. Following the Reserve Bank of India's announcement of its monetary policy today, it was agreed to hold off on raising the repo rate for a fifth consecutive day. We would like to inform you that five out of six members voted to keep the repo rate unchanged. The repo rate will be 6.50 percent this time as well. This implies that customers' personal loans, auto loans, and other loan kinds won't be impacted if the repo rate doesn't move.

GDP data for the second quarter improved.

Governor of the Reserve Bank of India, Shaktikanta Das, declared the monetary policy today, December 8. The governor of the RBI has not changed interest rates. At 6.5 percent, the repo rate has remained constant. Interest rates have been left unchanged by the RBI for the sixth time in a row. The second quarter's (Q2FY24) GDP numbers exceeded projections.

Estimates of GDP growth rose.

The estimated GDP growth was also disclosed by Governor Shaktikanta Das. The GDP growth projection for the fiscal year 2024 has been raised from 6.5 percent to 7 percent. The GDP growth estimate for the third quarter has been maintained at 6.4 percent except from this. We would like to inform you that the GDP projection for the 2024 fiscal year has been revised up from 6% to 6.4%. We would like to inform you that five out of six members supported the removal of the accommodating position on the adjustment in the repo rate. The MPC members were all in support of maintaining the current rates.

Growth in eight key industries is preferable.

RBI Governor Shaktikanta Das said that the development of eight key sectors is increasing in October and that domestic demand is driving the country's economy to continue expanding when announcing the monetary policy. In addition, the manufacturing sector has become stronger as a result of lower input prices and improving demand in rural areas. Government funding has accelerated investment, while demand for celebrations has accelerated domestic consumption.

Concerningly, sugar costs are rising.

Shaktikanta Das, the governor of the RBI, said that the rising cost of sugar is concerning. In addition, the RBI has made the inflation estimate public. Both the FY24 and Q3FY24 CPI estimates—5.4% and 5.6%, respectively—remain unchanged. In contrast, the Q1FY25 CPI estimate is still 5.2%, while the Q3FY25 CPI projection is stable at 4.7%. The RBI is still working to get the inflation rate down to 4%.