Oct 6, 2023, 02:12 PM IST

Top 10 important announcements made at RBI policy meet

Sirali Gupta

The Reserve Bank of India (RBI) has maintained a status quo stance on the repo rate. The standing deposit facility (SDF) rate also remains unchanged at 6.25% and the marginal standing facility (MSF) rate and the bank rate also remain steady at 6.75%.

Here are the 10 key highlights of the announcement.

1. Repo rate

The RBI kept the repo rate unchanged at 6.5%.

2. Accommodative stance

5 out of 6 members are in favour of withdrawing the accommodative stance.

3. Inflation rate

The policy's focus is on bringing inflation to the target of 4%.

4. Global policy rate

Global policy rates peaked but will remain high for a long time.

5 GDP

There is no change in the GDP estimate; the FY24 Consumer Price Index (CPI) estimate is stable at 5.4%.

6 CPI

The Q2 CPI estimate was raised to 6.4%, and the Q3 estimate was lowered to 5.6%.

7. Rural demand

Rural demand is improving, and some decline is expected in the September CPI.

8. Banks' interest rate transmission

Banks have not yet passed on the 2.5% cut in interest rates.

9 Sectoral improvement

Improvement was seen in private capex, and the industrial and construction sectors.

10 Gold loan

The gold loan limit in the bullet repayment scheme has been increased from Rs 2 lakh to Rs 4 lakh.

Image: Reuters and others