The Reserve Bank of India (RBI) has maintained the repo rate at 6.5% for the 10th consecutive time. RBI Governor and Monetary Policy Committee (MPC) Chairman Shaktikanta Das announced this decision during today’s MPC meeting.
The MPC confirmed that the reverse repo rate remains at 3.35%, and the bank rate holds steady at 6.75%, while the committee adopts a neutral policy stance. The GDP growth rate for the first quarter stands at an estimated 6.7%.
The MPC meeting began on Monday, following the government’s reconstitution of the committee, which includes three newly appointed external members.
Since February 2023, the RBI has kept the repo rate unchanged at 6.5%. After this decision, the stock market responded positively, with the Bombay Stock Exchange’s Sensex climbing by 500 points and the National Stock Exchange’s Nifty rising by 150 points.