The Reserve Bank of India increased its repo rate by 25 basis points (bps) to 6.5%.
Reason: Core inflation remained high
The repo rate has now been increased by 250 (225 + 25) bps since May 2022 by the panel.
RBI predicted the real GDP growth for FY24 at 6.4%, while growth for FY23 has been pegged at 7%.
RBI projected retail inflation at 6.5% (FY23) from 6.7% and 5.3% for the next fiscal year.
Other rates:-
SDF: 6.25%
MSF: 6.75%
Bank Rate: 6.75%