RBI Keeps Repo Rate Unchanged at 6.5% in June 2024 Monetary Policy

The Reserve Bank of India (RBI), under Governor Shaktikanta Das, announced its second bi-monthly monetary policy for the financial year 2024-25 on Friday. Despite the first RBI policy post the Lok Sabha election results of 2024, the six-member Monetary Policy Committee (MPC) opted to maintain the benchmark repo rate at 6.5%, marking the eighth consecutive hold by a majority vote of 4:2. The RBI also affirmed its stance of ‘withdrawal of accommodation’. Additionally, the central bank revised its GDP growth forecast upwards to 7.2% for FY25 from the earlier 7%, while retaining the inflation projection unchanged at 4.5% for the same period. Stay updated with the latest developments on the RBI MPC Meeting Live blog for more insights.