Tag: No change in interest rates: Reserve Bank of India (RBI)

Current Trends in Indian Economy No change in interest rates: Reserve Bank of India (RBI) The Reserve Bank of India (RBI) has not made any change in the interest rate (repo rate) on short-term loans to banks. The interest rate remains unchanged at 6.50 percent for the fourth consecutive time. Earlier, the RBI raised the interest rate by 0.25 percentage points to 6.50 percent in the Monetary Policy Committee meeting held last February. It has been decided to keep the interest rate unchanged in the four meetings of the Monetary Policy Committee. In the financial year 2023-24, the economic growth of the country will be 6.5 percent. Our target is to keep inflation at 4 percent. However, inflation is likely to continue at 5.4 percent. About Monetary Policy Committee Created                   - 2016 Recommendation – Urjit Patel Committee Head              - RBI Governor Objective                – To maintain price stability Target                 – To control inflation within (4% +-2%)