RBI Monetary Policy:The Reserve Bank of India has decided to retain the policy rate for the fourth time in a row, RBI Governor Shaktikanta Das said today, adding that the central bank is closely monitoring inflation.
Banks shall maintain an incremental CRR of 10% on increase in deposits between May 19 and July 28, with effect from the fortnight starting Aug. 12, RBI Governor Shaktikanta Das said in his monetary policy announcement.
RBI Monetary Policy August 2023: Shaktikanta Das said that the headline inflation after reaching a low of 4.3 per cent in May 2023, rose in June and is expected to surge during July and August, led by vegetable prices.
Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the MPC decided unanimously to keep repo rates unchanged. However, India s inflation forecast has been increased from the previous forecast, even as GDP projections remained unchanged. Here is a look at other important MPC announcements, including further filip to UPI ecosystem.