To remain focused on withdrawal of accommodation (Il Sole 24 Ore Radiocor) - New Dheli, 07 Jun - The Monetary Policy Committee (MPC) of the Reserve Bank of India decided by a 4 to 2 majority to keep the policy repo rate unchanged at 6.50% and to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target of around 4% while supporting growth.

The standing deposit facility (SDF) was kept steady at 6.25% and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

The RBI said that real GDP growth for 2024-25 is projected at 7.2%, with a 7.3% rise in the first quarter, 7.2% in the second, 7.3% in the third, and 7.2% in the fourth. In April, GDP was seen growing 7.0% in 2024/25.

Consumer price inflation for 2024-25 is projected at 4.5%, with 4.9% in the first quarter, 3.8% in the second, 4.6% in the third, and 4.5% in the fourth. The RBI said risks are evenly balanced.

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(RADIOCOR) 07-06-24 08:09:37 (0090) 5 NNNN