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This is an archive article published on March 23, 2024
RBI takes stock of domestic and global economic situation
In the meeting, which was held in Nagpur under the chairmanship of Governor Shaktikanta Das, the board discussed the challenges posed by geopolitical developments and global financial market volatility, the RBI said in a release.
The RBI’s six-member MPC is scheduled to meet from April 3 to 5. The rate-setting panel is likely to keep the repo rate — the key policy rate — unchanged at 6.5 per cent, in order to meet the 4 per cent inflation target. In February, the CPI or retail inflation stayed flat at 5.09 per cent against 5.1 per cent recorded for the month of January.
Days ahead of the Monetary Policy Committee (MPC) meeting, the Central Board of Directors of the Reserve Bank of India met Friday and took stock of the domestic and global economic situation.
In the meeting, which was held in Nagpur under the chairmanship of Governor Shaktikanta Das, the board discussed the challenges posed by geopolitical developments and global financial market volatility, the RBI said in a release.
It also reviewed activities of the RBI including the progress made in digital payments, consumer education and awareness during the current accounting year 2023-24. The board approved the RBI’s budget for the accounting year 2024-25.
The RBI’s six-member MPC is scheduled to meet from April 3 to 5. The rate-setting panel is likely to keep the repo rate — the key policy rate — unchanged at 6.5 per cent, in order to meet the 4 per cent inflation target. In February, the CPI or retail inflation stayed flat at 5.09 per cent against 5.1 per cent recorded for the month of January.
© The Indian Express Pvt Ltd
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