RBI did not make any change in the repo rate for the seventh consecutive time, this decision was taken in the monetary policy meeting

Repo Rate: Keeping in mind the strong economic growth rate and high inflation, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has announced the repo rate today at the end of its three-day meeting. RBI has not made any change in the repo rate for the seventh consecutive time. It is noteworthy that after increasing the repo rate to 6.50 percent in February 2023, the Reserve Bank has maintained the interest rate in every next meeting.

Earlier in the quarter, India's economic growth was 8.40 percent.

India's economic growth in the December quarter of 2023 was 8.40 percent, the highest among major economies. Apart from this, the inflation rate in February was also higher than expected at 5.09 percent. Which is much higher than the Reserve Bank's target of 4 percent. Reserve Bank Governor Shaktikanta Das had earlier said that unless inflation comes down to around 4 per cent, the repo rate cut would be premature.