Updated: February 8, 2024 12:04 PM IST 
RBI Monetary Policy News Updates: In a major development, RBI this time also opted for status quo and kept the repo rate unchanged at 6.5%. The Central bank also maintained the monetary policy stance as ‘withdrawal of accommodation’. RBI Governor Shaktikanta Das said the Central bank stresses it remains focused on aligning inflation target of 4 pc on durable basis. During the press conference, the RBI governor said the increasing geopolitical tensions have impacted the supply chain and putting pressure on commodity prices especially crude oil.
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India will remain the highest recipient of remittances: RBI Governor Shaktikanta Das.
India’s forex reserve at USD 622.5 billion; comfortable for meeting all foreign obligations, says RBI Governor Das.
RBI Monetary Policy Live Updates
RBI this time projects consumer inflation at 5.4% in current financial year.
RBI Monetary Policy: Shaktikanta Das Highlights Major Decisions
The MPC also decided by a majority of five out of six members to remain focussed on withdrawal of accommodation to ensure that inflation progressively alliance with the target while supporting growth,” says Reserve Bank of India (RBI) Governor Shaktikanta Das.
RBI Monetary Policy: Shaktikanta Das Addresses Media
RBI Governor Shaktikanta Das says, “…The Reserve Bank undertook six fine-tuning variable rate reverse repo auctions, that is, VRRR auctions from February 2 to February 7, 2024 to absorb surplus liquidity. Financial market segments have adjusted to the evolving liquidity conditions to varying degrees. While the short-term rates have fluctuated. Long-term rates have remained relatively stable, reflecting better anchoring of inflation expectations, as indicated in the softening of the term spread in the government securities market. In the credit market, however, monetary transmission remains incomplete…Our policy stance is in terms of interest rate, which is the principal tool of monetary policy in the current framework. Our stance of withdrawal of accommodation should be seen in the context of incomplete transmission and inflation ruling above the target of 4% and our efforts to bring it back to the target on a durable basis. So far liquidity conditions are concerned these are being driven by exogenous factors which are likely to correct in the foreseeable future, aided by our market operations…”
RBI Governor Shaktikanta Das said the Central bank stresses it remains focused on aligning inflation target of 4 pc on durable basis.
RBI Monetary Policy: Shaktikanta Das Addresses Media
RBI Governor Shaktikanta Das says, “Amidst the current headwinds elevated levels of public debt are raising serious concerns on macroeconomic stability in many countries, including some of the advanced economies. The global public debt to GDP ratio is projected to reach 100% by the end of this decade. The public debt levels in advanced economies, in fact, are much higher than those in the emerging market economies. The challenges of debt sustainability in an environment of high-interest rates and low growth at the global level can become new sources of stress. Reducing debt burdens is necessary to create fiscal space for new investments in priority areas, including green transition.”
RBI Governor Shaktikanta Das said going by the Interim Budget, the Central government is adhering to fiscal consolidation.
RBI Governor Shaktikanta Das. said the investment cycle gaining steam aided by sustained thrust of government capital expenditure.
RBI Monetary Policy: Shaktikanta Das Addresses Media
Rural demand continues to gather pace, urban consumption remains strong, says RBI Governor Shaktikanta Das.
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