Description

Add as a preferred source on Google

Highlights

The six members of the Monetary Policy Committee (MPC) voted unanimously to keep the repo rate at 4%. The MPC committee held the reverse repo rate at 3.35 percent, unchanged, as a result of Russia's invasion of Ukraine. The Monetary Policy Committee of the Reserve Bank of India (RBI), led by Governor Shaktikanta Das, held the repo rate steady for the 11th time. The repo rate, or short-term loan rate, was last decreased on May 22, 2020. Since then, the unemployment rate has remained at an all-time low of 4%. The GDP growth forecast has been lowered to 7.2 percent due to inflationary pressures generated by the on-going Russia-Ukraine war. Previously, the central bank had kept the GDP growth rate at 7.8%. Individual housing loan risk weight rationalisation will be extended until March 31, 2023. According to the RBI, the current account deficit is at sustainable levels, and foreign exchange reserves are at $606.5 billion. Inflation is now anticipated to be 5.7 percent in 2022-23, with 6.3 percent in the first quarter, 5% in the second, 5.4 percent in the third, and 5.1 percent in the fourth.

For more Updates and Information - Click here 

For access to more than 10,000 Colleges - Click here

For Latest Sarkari Jobs - Click here

For Comprehensive Preparation of Sarkari Job Exams - Click here

For Comprehensive Preparation of Competitive Exams - Click here

For School Studies and Exams Preparation across Eight Boards - Click here