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As we celebrate Indias 77th Independence Day in a few days, I am happy to note that the Indian economy is exuding enhanced strength and stability despite the massive shocks to global economy in recent years. Our economy has continued to grow at a reasonable pace, becoming the fifth largest economy i
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FAQ :
The Monetary Policy Committee decided to keep the policy repo rate unchanged at 6.50%.
The Indian economy is showing enhanced strength and stability, continuing to grow at a reasonable pace and contributing significantly to global growth, despite global economic shocks.
The MPC decided by a majority of 5 out of 6 members to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth.
India's banks are in their healthiest state in over a decade, with historically high capital levels, declining non-performing assets, and rising profitability.
Real GDP growth for 2023-24 is projected at 6.5%, with specific quarterly projections provided.
An incremental cash reserve ratio (I-CRR) of 10% has been implemented temporarily to absorb surplus liquidity, with a review scheduled for September 8, 2023.
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