December 6, 2024 Today RBI Reserve Bank of India has decided to retain the repo rate unchanged at 6.5%, Governor Shaktikanta Das announced. For the 11th consecutive time the repo rate has remained unchanged at 6.5%. Meanwhile, the RBI cut the CRR cash reserve ratio by 50 basis points to 4%.
This comes at a time when India’s inflation surged to 6.2% in October 2024, breaching the RBI’s tolerance limit and gross domestic product (GDP) growth slowed down to 5.4% for the July-September quarter.
It may also be the final MPC with Governor Das at the helm as his term ends this month. However, it is unknown if he will continue in office or not since he got an extension in 2021 after being appointed in December 2018.
