RBI Monetary Policy

Key Highlights April 2023

Monetary Policy Stance

RBI to remain focused on withdrawal of monetary policy accommodation.

Repo Rates at 6.50%

RBI has paused the repo rate hike.

GDP Growth at 6.5%

RBI has slightly increased its GDP growth forecast for FY24, raising it to 6.5% from its previous estimate of 6.4%.

Inflation for FY24 projected at 5.2%

FY24 inflation forecast lowered to 5.2% from 5.3%

Expanding UPI Footprint

RBI permits operation of pre-sanctioned credit lines at banks to widen and expand footprint of UPI.

Portal for Unclaimed Deposits

RBI to set up centralised portal to search across multiple banks for unclaimed deposits

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