The Reserve Bank of India (RBI) on October 06, 2023, issued the Monetary Policy Statement, 2023-24 Resolution of the Monetary Policy Committee (MPC) October 4 to 6, 2023.
The following has been decided namely: -
• Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.
• The standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
• 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 are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
[Press Release: 2023-2024/1052]
