RBI MPC Meeting 2024 Live Updates: RBI Governor Shaktikanta Das announced MPC’s 5-1 decision to keep interest rates steady at 6.5 per cent. Das said that inflation is moving closer to the RBI’s target but is yet to reach the 4 per cent mark. In the post announcement press conference, Governor Das answered questions on regulatory action against Paytm. He reiterated central bank’s stand of supporting innovation and technology in the financial sector.
RBI MPC Meeting Today Live Updates: The Reserve Bank of India (RBI) announced the short-term rate lending decision on Thursday at 10 am. As per market expectation, the central bank has kept the repo rate steady at 6.5 per cent. Prof. Jayanth Varma remained the only MPC member to suggest repo rate cuts by 0.25 per cent. The central bank’s bi-monthly Monetary Policy Committee (MPC) meeting commenced on Tuesday (February 6).
As of now, the repo rate stands at 6.5 per cent after a 0.25 per cent hike by RBI in February 2023. Inflation has remained largely above or at the upper end of RBI’s tolerance level.
Governor Das, in his address, made it clear that CPI inflation target of 4 per cent is yet to be reached. As per him, inflation has seen a significant moderation from the highs of summers of 2022.
Post the policy announcement, RBI Governor Shaktikanta Das addressed questions from the press, mostly surrounded around the regulatory action against payment aggregator Paytm. Das reiterated RBI’s stand of encouraging and promoting innovation in India’s financial sector.
