The Reserve Bank of India (RBI) decided to keep the policy repo rate unchanged at 6.50% for the eighth consecutive time. The Monetary Policy Committee (MPC) met on 5th, 6th, and 7th June 2024.
The standing deposit facility (SDF) rate remains at 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.
RBI Governor Shaktikanta Das stated the inflation-growth balance is favorable and monetary policy must stay disinflationary, aiming for a 4% inflation target.
The RBI raised the growth projection to 7.2% from an earlier estimate of 7% for the current financial year.
Q: What is the current policy repo rate (unchanged at 6.50% for the eighth consecutive time) as decided by the Reserve Bank of India on 7 June 2024?
a) 6.25%
b) 6.50%
c) 6.75%
d) 7.00%
Answer: b) 6.50%
