RBI MPC highlights: Last mile of our journey towards 4% inflation target is sticky, says Governor

RBI MPC Meeting highlights: RBI Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% for the eight consecutive time and will continue with its stance of 'withdrawal of accommodation.'

10:30 AM

RBI transferred Rs 2.11 trillion to government, says RBI Governor Shaktikanta Das

In his monetary policy speech, RBI Governor Shaktikanta Das said that the central bank transferred Rs 2.11 trillion to the central government as dividend. The central board decided to keep the contingent reserve buffer of 6.5 per cent, Das added. 

10:27 AM

RBI MPC decided by majority 4:2 to keep policy rates unchanged: Governor Shaktikanta Das

"RBI MPC decided by majority 4:2 to keep policy rates unchanged, RBI to take steps to enhance India's global footprint," RBI Governor Shaktikanta Das said. "India economy exhibits strong fundamentals, financial stability," Das added,

10:21 AM

RBI Monetary Policy update: FY25 CPI inflation estimate is kept unchanged at 4.5%

10:20 AM

RBI Monetary policy LIVE: Monsoon forecast is expected to replenish reservoir levels, says RBI Governor

RBI Governor Shaktikanta Das stated that the forecast of above-normal southwest monsoon by IMD is expected to boost Kharif production.

10:15 AM

RBI monetary policy LIVE update: Real GDP growth for FY25 projected at 7.2%, up from 7%

10:12 AM

RBI MPC LIVE update: SF and bank rate continue to be at current levels of 6.75%

10:10 AM

Repo rate unchanged at 6.50% for eighth straight time

The MPC, which consists of three RBI and three external members, kept the repo rate unchanged at 6.50% for an eighth straight policy meeting.

10:07 AM

RBI Monetary Policy update: RBI keeps repo rate unchanged at 6.5%

The Central bank kept its benchmark interest rate unchanged in a widely expected move. 

9:49 AM

RBI monetary policy LIVE: When and where to watch the RBI governor's announcement?

The RBI's announcement on the monetary policy can be watched LIVE on all social media handles of the central bank. It will also be streamed live on the central bank's YouTube channel.

9:40 AM

What did RBI Governor said on inflation?

RBI Governor Shaktikanta Das noted a steady decline in core inflation over the past nine months and highlighted that the fuel component of the Consumer Price Index (CPI) had been in deflation for six months. He emphasised that robust growth prospects provide the policy space to remain focused on controlling inflation.

9:31 AM

RBI is unlikely to cut interest rates given uncertainty on food inflation, says IDFC First Bank economist

“Given the uncertainty on food inflation and Fed policy outlook, RBI is unlikely to be in a hurry to cut interest rates. To signal this the status quo on stance is expected,” said Gaura Sen Gupta, an economist with IDFC First Bank. 

9:18 AM

RBI policy LIVE: What was the fiscal deficit in FY24?

The fiscal deficit stood at 5.6 per cent of GDP for FY24. This was an improvement from the Revised Estimates of 5.8 per cent.  

9:02 AM

When did RBI MPC last changed the repo rate?

The RBI MPC last changed rates in February 2023, when the repo rate was increased to 6.5 per cent. Annual retail inflation rose at a slower rate of 4.83 per cent in April but was still well above the MPC's 4 per cent medium-term target.

8:50 AM

Recent inflation data and outlook for prices of food suggests status quo on rates: ICRA

"The recent inflation data and the outlook for prices of food and commodities had suggested a status quo on the rates and stance in the upcoming June 2024 monetary policy review," said Aditi Nayar, Chief Economist, Head of Research and Outreach at ICRA.

8:38 AM

RBI Policy LIVE update: Central bank's policy stance

Since June 2022, the RBI has maintained its hawkish stance of “withdrawal of accommodation.” Most market pundits don’t expect a change to the relatively hawkish stance just yet.