The Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) recently announced the first bi-monthly monetary policy of FY2023-24.

• RBI Governor Shaktikanta Das revealed that the MPC has unanimously decided to keep the repo rate unchanged at 6.50%. This key lending rate is the rate at which the RBI lends money to commercial banks.
• Real GDP growth for 2023-24 is projected at 6.5 per cent .

RBI Policy Rates

Policy Repo Rate = 6.50%
Bank Rate =  6.75%
Fixed Reverse Repo Rate =3.35%
Cash Reserve Ratio (CRR) = 4.50%
Statutory Liquidity Ratio (SLR) =18.00%