Repo Rate Held Steady at 6.5% // Offline E-Rupee Transactions Coming

The Reserve Bank of India's Monetary Policy Committee opted to maintain the policy repo rate at 6.5%, with a majority decision of 5:1 during its final meeting of FY24, attributing the decision to persistent retail inflation surpassing the 4% target. This marks the sixth consecutive meeting where the MPC has chosen to keep the repo rate unchanged, which serves as the benchmark interest rate for banks acquiring funds from the RBI to address short-term liquidity imbalances. Projections indicate a CPI of 5.4% for FY24, expected to moderate to 4.5% in FY25, while the RBI forecasts real GDP growth of 7% for FY25.
In December 2022, the Reserve Bank of India (RBI) initiated a pilot program for the retail CBDC, achieving its goal of reaching 10 lakh transactions per day by December 2023. Now, the RBI has revealed plans to enable Digital Rupee users to conduct transactions in regions with restricted internet access. RBI Governor Shaktikanta Das announced the forthcoming introduction of offline capabilities to the Central Bank Digital Currency (CBDC) pilot project, as reported by the news agency PTI.

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Видео Repo Rate Held Steady at 6.5% // Offline E-Rupee Transactions Coming канала OdiaTechBulletin