The Reserve Bank of India has kept the key lending rate that is the repo rate unchanged in the first monetary policy of the new financial year. The real GDP growth for 2022-23 has been projected at 7.2%. India has kept the repo rate unchanged for about two years.
The RBI governor Shaktikanta Das said that, “To leave the repo rate unchanged at 4%, the Monetary Policy Committee (MPC) voted unanimously.”
Inflation is expected to rise to 5.7% from 4.5%. Marginal standing facility (MSF) rate and bank rate remain unchanged at 4.25%. RBI has been decided to restore the LAF corridor to the 50 basis points.
