RBI Keeps Key Lending Rates Unchanged In 1st Monetary Policy After Budget

New Delhi: The Reserve Bank of India (RBI) preferred to keep its key interest rate unchanged for the ninth consecutive time, announced the RBI governor Shaktikanta Das on Thursday.

A six-member Monetary Policy Committee (MPC) headed by the RBI governor kept the repo rate unchanged at 6.5 per cent.

The decision was announced after the RBI’s rate-setting panel’s three-day meeting that started on Tuesday. It was the first MPC meeting after the Union Budget for the fiscal 2024-25.

The committee, which consists of three RBI and three external members, voted 4:2 to keep the repo rate unchanged. Repo rate was last changed in February 2023.

The RBI governor said that new technologies like AI “pose a new set of challenges” for the global economy.

Despite some slowdown expected from the 8.2% expansion in fiscal 2024, India will remain among the fastest-growing economies globally if its 7.2% expected growth is achieved, said Das.