RBI keeps policy rate unchanged, sticks to 6.5% GDP growth forecast
New Delhi, Aug. 7 -- Amidst rising global uncertainty, the Monetary Policy Committee (MPC) of the Reserve Bank of India has retained the policy rate at 5.5% and stuck to its forecast of 6.5% GDP growth in 2025-26 even as governor Sanjay Malhotra pointed to the nation's contribution to global growth. "We (India) have a very robust growth rate," he said, adding "we are contributing about 18% (to global growth) which is more than US..." MPC's meeting comes in the immediate backdrop of US President Trump imposing an additional 25% penalty on India on account of its imports of Russian crude oil.
The 56th MPC meeting of RBI unanimously decided to keep the policy rate and policy stance unchanged at 5.5% and neutral while resolving to "maintain a close vigil on the incoming data and the evolving domestic growth-inflation dynamics to chart out the appropriate monetary policy path"... P13...
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