No Hike In Repo Rate, RBI Keeps It Steady At 6.5%

Mumbai: 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.

“We are witnessing unprecedented uncertainties in geopolitics and economy. RBI will remain focused on the withdrawal of monetary policy accommodation,” said Governor Das.

Banking and non-banking financial systems remain healthy. Policy decisions taken since May 2022 are still working through the system. Economic activity has remained resilient and the economy is expected to grow 7 per cent in financial year 2023, Das said.

Earlier this month, Indian stocks traded largely steady as investors at large are eyeing the outcome of the three-day Reserve Bank of India’s monetary policy committee meeting, the first in 2023-24. At the time of writing this report, benchmark indices – Sensex and Nifty – declined 0.1 per each.