RBI MPC Meeting Highlights February 2024: Repo rate unchanged at 6.5%; actions against Paytm are in the best interest of systemic stability, says Shaktikanta Das

Updated – February 08, 2024 at 04:14 PM.

RBI Monetary Policy Meeting Highlights, RBI MPC Meeting February 2024 News & Key Highlights:

The Reserve Bank of India’s Monetary Policy Committee has decided to keep the policy repo rate unchanged at 6.5%. The six-member committee voted by 5:1 majority to keep the repo rate unchanged in its last meeting of FY24 as retail inflation continues to be above its target of 4%. This is the sixth meeting on the trot that the MPC has maintained a status quo on the repo rate (the interest rate at which banks draw funds from RBI to overcome short-term liquidity mismatches). CPI for FY24 is projected at 5.4%, while it’s likely to be at 4.5% in FY25. RBI has pegged real GDP growth for FY25 at 7%. On the Paytm issue, RBI Governor Shaktikanta Das said the central bank has been engaged with Paytm for quite some time and all the regulatory actions are in the best interest of systemic stability and customers.