Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: RBI maintains status quo in policy rate for 5th time now
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Breaking > RBI maintains status quo in policy rate for 5th time now
Breaking

RBI maintains status quo in policy rate for 5th time now

ANI
Last updated: December 8, 2023 9:37 am
ANI
Published: December 8, 2023
Share
3 Min Read
SHARE

 The Monetary Policy Committee of the Reserve Bank of India (RBI) in its December review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the fifth straight time.

Deliberating the policy statement on Friday morning, RBI Governor Shaktikanta Das attributed declining inflation as reason behind maintain status quo the policy stance.

Retail inflation in India continued to ease through October, supported by a relative decline in some of the sub-indexes. The October consumer price index (CPI) came at a four-month low of 4.87 per cent against 5.02 per cent the previous month. Retail inflation in India though, is in RBI’s 2-6 per cent comfort level but is above the ideal 4 per cent scenario.

Das said the MPC also decided by a majority of 5 out of 6 members to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.

Das’ remarks also found mention of firm GDP growth in the second quarter.

The Indian economy grew 7.6 per cent during the July-September quarter of the current financial year 2023-24, remaining the fastest-growing major economy. India’s GDP growth for the April-June quarter grew 7.8 per cent.

The three-day bi-monthly monetary policy committee (MPC) meeting of the RBI began on Wednesday. The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicators.

For the fourth straight occasion, the monetary policy committee, through its October review meeting, unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining the status quo.

In its past four meetings, it held the repo rate unchanged at 6.5 per cent. The repo rate is the rate of interest at which RBI lends to other banks.

A relative decline in inflation, barring the latest spike, and its potential for further decline may have prompted the central bank to put the brake on the key interest rate. Inflation has been a concern for many countries, including advanced economies, but India has largely managed to steer its inflation trajectory quite well.

Barring the latest pauses, the RBI raised the repo rate by 250 basis points cumulatively to 6.5 per cent since May 2022 in the fight against inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline. (ANI)

Govt orders transfer of six JKAS officers
3 Indian Army units involved in Yangtse face-off thwarted Chinese army aggression
Police arrests 3 drug peddlers in Ganderbal and Awantipora
BJP-led government has zero-tolerance policy against terrorism: Amit Shah in Rajya Sabha
Will extend complete support to NC-Congress alliance if PDP’s agenda is accepted: Mehbooba Mufti

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article Cold conditions tighten grip in Kashmir, Pahalgam coldest at minus 4.8 degree Celsius
Next Article Roads, power grids, & tourism mark achievements in Bandipora: DC
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Tourism assets must be market-driven, efficient: Omar
Top Stories
July 10, 2025
Tourists returning to Kashmir in good numbers: CM
Top Stories
July 10, 2025
DGP reviews security situation in North Kashmir
Top Stories
July 10, 2025
GIS crucial in safeguarding JK’s rich biodiversity: Rana
City
July 10, 2025

Recent Posts

  • Tourism assets must be market-driven, efficient: Omar
  • Tourists returning to Kashmir in good numbers: CM
  • DGP reviews security situation in North Kashmir
  • GIS crucial in safeguarding JK’s rich biodiversity: Rana
  • JK DGP commends forces for commitment towards peace

Recent Comments

  1. Raja Mani Khan on Srinagar: People gather in big numbers to participate in Muharram procession
  2. Shah on Relief for Employees: J&K Bank Fixes EMI-Credit Mismatch, says JK Bank Chairman
  3. Latif khan on Why Kashmir needs Stronger Private Healthcare and Health Insurance
  4. Sameer farooq mir on Qazi Irfan assumes charge as RTO Kashmir
  5. Captain Vikrama on CM Omar Abdullah hails historic feat as three Kashmiri Girls crack IIT-JEE Advanced

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?