Wednesday, January, 15,2025

Latest News

Union Minister Scindia sends letters to Indian Army's regiments on Army Day

Karnataka Minister Zameer Khan gifts three cows to family whose animals udders were mutilated in Bengaluru

Pilot stresses Constitution’s importance, criticises BJP

Yadav lays foundation of Shri Krishna Sandesh Sansthan

NCW Chairperson Rahatkar hears women’s grievances in Udaipur

Birla distributes blankets to 4,000 women on Sankranti

State’s ‘Sono Rajasthan’ tableau to shine at Bharat Parv

‘Jal Sanchay-Jan Bhagidari’ dialogue programme to be held at CMR today

Makar Sankranti celebrated at Pandit Ji Ki Dhani Gau Dham

Over 200 injured, 400 birds hurt in festive mishaps

Advanced version of Nag Missile tested successfully in Jaisalmer

Guv Bagade honours Veterans; Tribute paid to Field Marshal Late KM Cariappa & soldiers

PHQ asks state govt to clarify on continuing 3 new police ranges

State govt is committed to promote sports: CM

4 of a family from Dehradun found dead in Mehandipur

Mahakumbh: Jagadguru Swami Rambhadracharya express happiness after Amrit Snan, praises govt for arrangements

"Our tradition started from Lord Ram, Krishna..." Mohan Bhagwat

Jairam Ramesh slams PM Modi for ignoring Manipur crisis on Bharat Jodo Nyay Yatra anniversary

"Delhi polls will expose 'Jugalbandi' going on between Congress, BJP for years": Kejriwal

PM Modi extends wishes on Magh Bihu, Makar Sankranti

RBI Keeps Repo Rate Unchanged at 6.5 pc; GDP growth for FY25 reduced to 6.6 per cent from 7.2 per cent

06 Dec-2024 12:19 PM

By: FirstIndia

Mumbai: The Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 per cent for the 11th consecutive period, marking a continuation of its neutral monetary policy stance.
Governor Shaktikanta Das announced that this decision was made by a 4:2 majority during the Monetary Policy Committee (MPC) meeting on Friday,
"As a result, the Standing Deposit Facility (SDF) rate remains at 6.25 per cent, and the Marginal Standing Facility (MSF) rate, along with the Bank Rate, stays at 6.75 per cent," Das added.
Reflecting on India's economic trajectory, the Governor disclosed a revised GDP growth projection for FY25.
He said, "Real GDP growth for 2024-25, that is the current year, is now projected at 6.6 per cent, with Q3 at 6.8 per cent and Q4 at 7.2 per cent. Real GDP growth for the first quarter of 2025-26 is projected at 6.9 per cent, and the second quarter of 2025-26 at 7.3 per cent."
The RBI Governor announced that cash Reserve Ratio or CRR was cut by 50 basis points from 4.5 per cent to 4 per cent. This the Governor said will infuse Rs 1.15 lac crore of liquidity into the banking system
Inflation projection for FY25 has been hiked from 4.5 per cent to 4.8 per cent as per RBI.
The MPC also unanimously agreed to persist with a neutral stance and remain unequivocally focused on aligning inflation with the target on a durable basis.
"The mandate of the Reserve Bank of India is to maintain price stability while supporting the objective of growth," Das emphasized.
Reflecting on India's economic trajectory, Shaktikanta Das noted, "As an economy, India has been growing at over 8 per cent GDP growth in the last three years. Despite recent aberrations in growth and inflation trajectories, the economy continues its journey on a sustained and balanced path towards progress."
Das further highlighted India's strong position in a rapidly evolving global economic landscape. "Amidst the reshaping of the global economy, India is well-positioned to benefit from emerging trends as it forges ahead on a transformative journey," he stated.

Tags