The Reserve Bank of India (RBI) kept its key lending rate unchanged for the third consecutive time, as it continued to monitor inflation closely. In a bi-monthly monetary policy announcement today, RBI Governor Shaktikanta Das said that the Monetary Policy Committee (MPC) has unanimously decided to maintain the repo rate at 6.5%.
Here are Governor Das’s top quotes:
Indian economy has made significant progress toward controlling inflation. India is uniquely placed to benefit from the ongoing transformational shift in the global economy.
The MPC will remain watchful of inflation and remains resolute in its commitment to align inflation to the targeted level.
Global economy continues to face daunting challenges of inflation, geo-political uncertainty, and extreme weather conditions. However, India is expected to withstand external headwinds on the economic growth front.
Our banks are the healthiest in more than a decade. The Indian financial sector has been stable and resilient as is being reflected in sustained growth numbers.
The RBI remains steadfast in its commitment to safeguard the financial system from emerging and potential challenges. The upcoming festival season is expected to provide support to private consumption and investment activities.
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RBI Keeps Key Lending Rate Unchanged At 6.5% For Third Time In Row