RBI Monetary Policy Highlights: MPC keeps repo rate unchanged at 6.5%; inflation for FY24 pegged at 5.4%

RBI MPC Meeting Live, Repo Rate News: The RBI Monetary Policy Committee has kept the key policy repo rate unchanged at 6.5%. This is the third meeting on the trot that the MPC decided to maintain the status quo on the repo rate. The MPC last raised this rate from 6.25 per cent to 6.50 per cent at its meeting in February. India’s GDP likely to grow at 6.5% in FY24, said RBI Governor Shaktikanta Das. RBI pegged inflation for FY24 at 5.4%. RBI Governor has said that Indian economy is the bright spot in the global economy. RBI to allow offline payment of UPI by using near-field communication. The central bank raised payment limit via UPI lite to Rs 500 from Rs 200. Home loan, other borrowers can switch to fixed-rate regime, says RBI.

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