New Delhi, April 08 (H.S.). The Reserve Bank of India (RBI) has not made any change in the key interest rate at present. RBI has retained the repo rate at 4 per cent, while the reverse repo rate has been increased by 0.40 per cent. The reverse repo rate has now increased to 3.75 per cent. Governor Shaktikanta Das gave this information while announcing the results of the first Monetary Policy Committee (MPC) meeting of the current financial year on Friday.
Announcing the results of the MPC, Reserve Bank Governor Shaktikanta Das said that the GDP growth forecast for the financial year 2022-23 has been reduced from 7.8 per cent to 7.2 per cent. At the same time, the inflation rate has also been projected to increase from 4.5 percent to 5.7 percent. Announcing the monetary results, Shaktikanta Das said that this decision has been taken with the consent of all the members.
It is noteworthy that for the eleventh time in a row, the RBI did not change the policy rates in the monetary review meeting. Earlier, the Reserve had cut the repo rate on May 22, 2020.