RBI MPC Meeting Big Decision: The Reserve Bank of India has given a big relief to the people by not increasing the repo rate in the first meeting of the Monetary Policy Committee for the financial year 2023-24. RBI Governor Shaktikanta Das said that there is a challenging situation at the global level, which has also affected India.
Highlights of the RBI meeting
- First of all, Shaktikanta Das said that this time there will be no increase in the repo rate, which means that the RBI repo rate will remain at 6.50 per cent.
- Economic growth rate for FY2024 is 6.4 per cent 6.5 percent growth has been estimated. The growth rate will be 7.8 percent in the first quarter, 6.2 percent in the second quarter, 6.1 percent in the third quarter and 5.9 percent in the fourth quarter.
- On inflation, the RBI governor said that the work is still over. Not done. Work will continue till inflation reaches RBI’s level.
- RBI has reduced inflation forecast for FY24 to 5.2 per cent from 5.3 per cent.
- CIBIL Score Regarding this, RBI said that if anyone checks your CIBIL score, information will be given through SMS.
- The current account deficit was 2.7 percent during April to December last year and it has come down to 2.2 percent during January to March 2023.
- Apart from this, RBI is about to launch its own portal. Under which information about unclaimed funds will be given. It will also be given the facility to extract it.
- Inflation has been above the central bank’s mandated target range of 2 per cent to 6 per cent for 10 of the last 12 readings.
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