The Reserve Bank of India (RBI) on June 22, 2023, issued the Minutes of the Monetary Policy Committee Meeting
The following has been stated namely: -
• It has been decided to Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 percent.
• The standing deposit facility (SDF) rate remains unchanged at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent.
• The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth.
• These decisions has an objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent while supporting growth.
[Notification No. 2023-2024/449]
