Governor Shaktikanta Das said today that the Monetary Policy Committee of the Reserve Bank of India has decided to keep the Repo rate unchanged at 6.5%.
In order to keep the interest rate unchanged, the six-member Monetary Policy Committee (MPC) has decided to keep the repo rate at 6.5% for the fifth time.
The Governor of the Reserve Bank of India, Shaktikanta Das, said that the Monetary Policy Committee has unanimously decided to keep the repo rate unchanged at 6.5% after a thorough assessment of the expanding overall economic development and situation. As a result, the current ‘Standing Deposit Facility’ stood at 6.25%, while the ‘Marginal Standing Facility’(MSF) and bank credit stood at 6.5%.
He further said that five out of the six members of the Monetary Policy Committee have focused on the ‘withdrawal of accommodation’, focusing on keeping inflation in line with growth.
Similarly, he informed that the inflation will remain high in November-December due to the increase in food prices. In the second half of this financial year, the internal trade of the country is going well, it is evident from the growth of ‘GDP’.
Besides, UPI payment limit for hospitals and educational institutions has been increased from Rs 1 lakh to Rs 5 lakh per transaction, he said.