RBI MPC meeting key highlights: No hike in key interest rate in some respite for common man

RBI MPC meeting highlights, RBI MPC meeting April 2023: Reserve Bank of India (RBI) Governor Shaktikanta Das-led Monetary Policy Committee kept the repo rate unchanged at 6.5 per cent on Thursday, April 6. Check out the salient points from the RBI MPC meeting. 

RBI MPC meeting highlights: Here are the key highlights

• Marginally raises GDP growth projection for FY24 to 6.5 per cent from an earlier estimate of 6.4 per cent
• Permits operation of pre-sanctioned credit lines at banks to widen and expand the footprint of Unified Payments Interface (UPI).
• To set up centralised portal to search across multiple banks for unclaimed deposits
• Gulf Cooperation Council (GCC) countries to remain main source of remittances; inward remittances touch an all-time high of USD 107.2 billion in 2022
• Current Account Deficit (CAD) to remain moderate in Q4 FY23 and also in the current fiscal year
• To maintain an agile approach to liquidity management

Also read- RBI MPC meet: Repo rate unchanged at 6.50%; 'withdrawal of accommodation' stance retained

• Has adopted a prudent approach toward regulations
• RBI keeping a close watch on the turmoil in the banking sector in developed countries
• Remains vigilant and ready to face challenges with a firm commitment to price and financial stability
• To remain focused on the withdrawal of monetary policy accommodation
• To set up centralised portal to search across multiple banks for unclaimed deposits

This was the first monetary policy meet of the financial year 2023-24 (FY24).

(With inputs from PTI)

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.