RBI MPC Meeting: The Reserve Bank of India (RBI) has maintained its inflation forecast for the fiscal year at 5.4%, despite concerns over uneven monsoons and rising global crude oil prices. The RBI's Monetary Policy Committee has kept the key lending rate unchanged at 6.5%, with a focus on withdrawing accommodation. The inflation outlook is uncertain due to factors such as lower oil reserves, volatile global food and energy prices, and the impact of El Nino. The RBI aims to bring inflation down to 4% and will closely monitor risks, including global supply shocks.

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