RBI MPC Meet 2023: Rates unchanged, inflation projection lowered

RBI MPC Meet 2023: Key Highlights

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The Reserve Bank of India (RBI) has announced its latest monetary policy decisions. The key highlights include unchanged interest rates, a maintained growth estimate, and a lowered inflation forecast.

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RBI has kept interest rates unchanged, growth estimate intact, and cut inflation forecast

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Repo rate, the interest that banks pay the RBI for funds borrowed, is at 6.50% since February 2023

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RBI has cut the inflation forecast and made a strong commitment to bringing it down to 4%

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'Need to maintain Arjuna’s eye on inflation," Governor Shaktikanta Das said

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RBI proposes the issuance of e-rupee vouchers on behalf of individuals

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Non-banking financial companies can issue e-rupee vouchers to increase circulation of the digital currency

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Banks will be allowed to issue RuPay forex cards to Indians travelling abroad

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RBI expects India's GDP to grow 6.5% in FY24, with growth in the second half likely to be slower

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Urban cooperative banks get 2 more years, until 2026, to meet the priority sector lending target

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