Thursday, June 20, 2024
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RBI keeps repo rate unchanged at 6.5%

RBI Keeps Repo Rate Steady at 6.5% for Fourth Consecutive Time

In its latest decision, the Reserve Bank of India (RBI) has opted to maintain the repo rate at 6.5% for the fourth consecutive time. RBI Governor Shaktikanta Das expressed optimism about India becoming a new global growth engine. This decision to keep the repo rate steady has been in effect since May 2022 as a measure to curb escalating prices. Nevertheless, retail inflation reached 6.83% in August, exceeding the RBI’s acceptable limit.

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