RBI held the repo rate stable at 6.5% for the 9th consecutive time

New Delhi| The Reserve Bank of India has decided to keep the repo rate stable at 6.5 percent for the 9th consecutive time. There has been no change in the repo rate for the last 18 months. Today was the last day of the RBI Monetary Policy Committee meeting that began under the chairmanship of Reserve Bank of India Governor Shaktikanta Das on August 6. After the meeting, the Governor announced the decisions of the committee. 4 out of 6 members of the RBI Monetary Policy Committee ruled in favor of not changing the rates.

Apart from the repo rate, it has also been announced to keep MSF, reverse repo rate and bank rate stable. Let us tell you that the current MSF is at 6.75%, reverse repo rate at 3.35 percent and bank rate at 6.75 percent. Shaktikanta Das said that the Reserve Bank of India is making efforts to achieve the inflation target of 4 percent. He said that the current global growth outlook looks positive but the medium term global growth outlook looks challenging.

The Reserve Bank of India i.e. RBI last increased it in the month of February of the year 2023 by changing the repo rate. The repo rate has remained at 6.5 percent since February, 2023.