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The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on April 5, 2024 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.
The decision was made on a majority of 5:1, according the the statement by India’s central bank.
The MPC is a six-member committee comprising three members from RBI including Governor Shaktikanta Das and three members appointed by the Central government.
The RBI had maintained the status quo on policy rates and stances in its last review, which was held in February 2024. The repo rate was raised by a total of 250 basis points between May 2022 and February 2023.
Robust growth provides space for monetary policy to remain focused on bringing inflation down to its 4% target, Mr. Das said in his statement.
Monetary policy must remain actively disinflationary at this stage, Mr. Das said.
