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Highlights Of RBI Monetary Policy

RBI Monetary Policy: RBI hiked its key lending charge by 50 foundation factors to pre-pandemic ranges.


The Reserve Bank of India (RBI) on Friday raised the benchmark lending charge by 50 foundation factors to five.40 per cent to tame inflation.

Following are the highlights of the RBI’s fourth financial coverage evaluation of fiscal 12 months 2022-23 introduced by Governor Shaktikanta Das:

  • Key short-term lending charge (repo) raised by 50 foundation factors (bps) to five.4 per cent; third consecutive hike
  • In all, 140 bps hike in repo since May 2022 to test inflation
  • GDP development projection for 2022-23 retained at 7.2 per cent (computer).
  • GDP development projection: Q1 at 16.2 computer; Q2 at 6.2 computer; Q3 at 4.1 computer; and This fall at 4 computer
  • Real GDP development for Q1:2023-24 projected at 6.7 per cent
  • Domestic financial exercise exhibiting indicators of broadening
  • Retail inflation projection too retained at 6.7 computer for 2022-23
  • Inflation projection: Q2 at 7.1 computer; Q3 at 6.4 computer; and This fall at 5.8 computer; Q1:2023-24 at 5 computer
  • India witnessed giant portfolio outflows of USD 13.3 billion in FY23 as much as August 3
  • Financial sector nicely capitalised and sound
  • India’s international change reserves present insurance coverage towards world spillovers
  • Monetary Policy Committee decides to stay targeted on withdrawal of accommodative stance to test inflation
  • Depreciation of rupee extra on account of appreciation of US greenback fairly than weak point in macroeconomic fundamentals of the Indian economic system
  • RBI to stay watchful and targeted on sustaining stability of rupee
  • Rupee depreciated by 4.7 computer towards US greenback this fiscal 12 months until August 4
  • India’s international change reserves stay fourth largest globally
  • Mechanism to be activated to permit NRIs to make use of Bharat Bill Payment System for funds of utility and training on behalf of their households in India
  • Next assembly of rate-setting panel scheduled for September 28-30, 2022.

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