Following are the highlights of the Reserve Bank’s second bi-monthly monetary policy for 2023-24:
* Repo rate remains unchanged at 6.5 pc
* Maintains pause for 2nd time in a row
* Standing deposit facility rate remains at 6.25 pc
* Marginal standing facility rate and bank rate unchanged at 6.75 pc
* Inflation forecast for FY24 marginally lowered to 5.1 pc
* GDP growth projection retained at 6.5 pc for FY24
* Growth for Q1 pegged at 8 pc; Q2 6.5 pc, Q3 6 pc, and Q4 5.7 pc
* CAD expected to have moderated further in Q4:2022-23, remain eminently manageable in FY24 also
* RBI permits non-bank PPI issuers to issue e-RUPI vouchers
* Banks to issue RuPay Prepaid Forex cards
* Minutes of MPC’s meeting to be published on June 22
* Next meeting of MPC scheduled for August 8-10, 2023. (PTI)
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