The Reserve Bank of India (RBI) has maintained the repo rate at 6.5% during its bi-monthly monetary policy announcement, marking the sixth consecutive meeting without a change in interest rates. RBI Governor Shaktikanta Das highlighted that India's real GDP growth for the fiscal year 2024-25 is projected at 7%, with quarterly estimates of 7.2% in Q1, 6.8% in Q2, 7% in Q3, and 6.9% in Q4. The governor also noted that both rural demand and urban consumption remain strong, and the investment cycle is gaining momentum, supported by government capital expenditure and policy initiatives like the production-linked incentive scheme. Additionally, the central bank expects global growth to stay steady in 2024, with signs of recovery in global trade momentum. Despite current headwinds, India's economic activity is expected to continue its momentum into the next fiscal year, propelled by structural drivers and a robust financial sector. The RBI's monetary policy stance is described as ‘withdrawal of accommodation’. The CPI inflation for the next financial year is projected at 4.5%, with the forex reserve at USD 622.5 billion, indicating a comfortable position for meeting foreign obligations.
💡 India: RBI retains repo rate at 6.5% in first 2024 decision - @EmergingMWatch on https://t.co/orvmA6Wqwk Full Story → https://t.co/dLfJFaIF9N
Investment cycle is gaining steam, aided by sustained thrust on government #CapEx, increasing capacity utilisation;rising flow of resources to the commercial sector and policy support from schemes such as production linked incentive #PLI : RBI Governor in his monetary policy… https://t.co/hFG4QOWkSi
#Highlight | From Unchanged Key Rate To #GDPGrowth: @RBI Governor @DasShaktikanta announces its bi-monthly policy MPC keeps policy rate unchanged at 6.5%, maintains monetary policy stance as ‘withdrawal of accommodation’: RBI Governor #RBIPolicy #GDPR https://t.co/yTX4UGQO15
RBI keeps repo rate unchanged at 6.5 percent https://t.co/1KBff6Saps
The decision to maintain the key repo rate at 6.5 percent marks the sixth time the 6-member Monetary Policy Committee (MPC) has opted to keep the interest rates unchanged https://t.co/hOQdDNaQeL
India will remain the highest recipient of remittances: RBI Governor Shaktikanta Das. India's forex reserve at USD 622.5 billion; comfortable for meeting all foreign obligations, says RBI Governor Das. #MPC https://t.co/uSV4PmjOvs
#WATCH | RBI Governor Shaktikanta Das says, "...The Reserve Bank undertook six fine-tuning variable rate reverse repo auctions, that is, VRRR auctions from February 2 to February 7, 2024 to absorb surplus liquidity. Financial market segments have adjusted to the evolving… https://t.co/j5WLX1zJDy
"FY2024-25 Real GDP Growth is projected at 7% : with Quarter-1 - Q1: 7.2% Q2:6.8% Q3 :7% Q4:6.9% " #RBI Governor Shaktikanta Das in MPC statement. @FinMinIndia | @RBI https://t.co/oIGumrJ9kP
RBI’s Monetary Policy Committee decides to keep #RepoRate unchanged at 6.5% Global growth is expected to remain steady in 2024, with heterogeneity across regions: #RBI governor @DasShaktikanta #RepoRate | @RBI | @FinMinIndia https://t.co/52DPJo0JHk
"CPI inflation for next financial year (2024-25) is projected at 4.5% with Q1 at 5%, Q2 at 4%, Q3 at 4.6% and Q4 at 4.7%," says #RBI Governor Shaktikanta Das Track LIVE updates: https://t.co/dGgZvHLmlI https://t.co/lvHHj3KcZH
Rural demand continues to gather pace, urban consumption remains strong, says RBI Governor Shaktikanta Das. #MPC https://t.co/2dsN4ZPTbv
#WATCH | RBI Governor Shaktikanta Das says, "Amidst the current headwinds elevated levels of public debt are raising serious concerns on macroeconomic stability in many countries, including some of the advanced economies. The global public debt to GDP ratio is projected to reach… https://t.co/hO11C9rO96
Investment cycle gaining steam aided by sustained thrust of government capital expenditure: RBI Governor Shaktikanta Das. https://t.co/VbZ2ocZ02x
India’s central bank leaves its key benchmark interest rate unchanged for a sixth straight meeting, and signals rates will stay higher for longer https://t.co/neKADCG8p8
Momentum in economic activity expected to continue in fiscal year 2024-25 also, says RBI Governor Shaktikanta Das. #MPC https://t.co/HWrICZ1ygH
"Real GDP growth for 2024-25 is projected at 7% with Q1 at 7.2%, Q2 at 6.8%, Q3 at 7% and Q4 at 6.9%...Risks are evenly balanced," says #RBI governor Shaktikanta Das Track LIVE updates: https://t.co/dGgZvHLmlI https://t.co/6ZDgjCRdv5
#RBI keeps #RepoRate unchanged at 6.5%. #RBIPolicy #RepoRate | @RBI | @FinMinIndia https://t.co/1TFCukDR2s
#WATCH | RBI Governor Shaktikanta Das says, "Global growth is expected to remain steady in 2024, with heterogeneity across regions. Though global trade momentum remains weak, it is exhibiting signs of recovery and is likely to grow faster in 2024. Inflation has softened… https://t.co/gxbg1P11Pn
Momentum in domestic activities continues to be strong: RBI Guv Das. https://t.co/0lWLh46Y5Y
India's potential growth is propelled by structural drivers: RBI Guv Shaktikanta Das. https://t.co/tEO8WzfBjd
LIVE: #RBI Governor @DasShaktikanta announces its bi-monthly policy https://t.co/9Ul9W2Xl5m https://t.co/M7sEXKOCvd
#RBI Governor Shaktikanta Das to announce its bi-monthly policy amid expectations of continued pause on key interest rate https://t.co/43bst3i1Gg
RBI may hold rates, a year after last hike - No change in repo rates since Feb 2023 Live Updates: https://t.co/dGgZvHLmlI https://t.co/sZ5SDEe4tr
RBI may hold rates, a year after last hike - No change in repo rates since Feb 2023 Read: https://t.co/dGgZvHLmlI https://t.co/F9i2I3dlD2
#RBI will announce its bi-monthly policy today amid expectations of continued pause on the key interest rate. RBI Governor @DasShaktikanta will announce at 10 AM the decisions taken during the 3-day meeting of Monetary Policy Committee (MPC). @RBI | #MonetaryPolicy https://t.co/GQqHy7IGCU
India’s central bank will likely keep interest rates unchanged for a sixth straight policy meeting Thursday https://t.co/jp4sZnwadh
Thailand’s central bank keeps its benchmark interest rate unchanged for a second straight meeting, ignoring government pressure to cut borrowing costs to spur the economy https://t.co/Jwd2el0cIi
India’s economy will likely grow 7% in the next fiscal year and possibly exceed that pace in coming years, underpinned by a strong financial sector and business reforms, the Finance Ministry has said.