RBI keeps repo rate unchanged at 6.5%

NEW DELHI,APR 6 : The Reserve Bank of India (RBI) Governor Shaktikanta Das announced on Thursday that the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent with readiness to act should the situation so warrant.

Shaktikanta said the global economy is facing a renewed phase of turbulence and the RBI will remain focused on withdrawal of monetary policy accommodation. He said the policy decisions taken in May 2022 are still working through the system and the current policy rate remains accommodative.

The banking and non-banking financial system remains healthy and India’s economic activity remains resilient with an expected growth of 7 per cent in the ongoing financial year.

-The India Today