🌟 Highlights of RBI Monetary Policy 🌟
🔸 RBI raised repo rates by 50 bps to 5.4%.
🔸The standard Deposit Facility rate (SDF) adjusted to 5.15%.
🔸 Marginal Standing Facility (MSF) rate and bank rate were revised at 5.65%.
🔸 Its the 3rd consecutive rate hike after 40 bps in May and 50 bps in June so total hike in this year is 1.40% as of now.
🔸 Retail inflation running above the comfort level of 6% and was at 7.1% in the month of June.
🔸 Growth Projections: Q1 16.2%, Q2 6.2%, Q3 4.1%, Q4 4% for the current fiscal year with risk broadly balanced.
🔸 Inflation: The inflation projections remain unchanged at 6.7% for the year. While for the Q2 at 7.1%, Q3 at 6.4% and Q4 at 5.8%.
🔸 RBI proposed to enable Bharat Bill Payment Systemto accept cross boarder inward bill payments.
Disclaimer: The information mentioned above is only for educational purposes. Kindly contact your financial advisor before trading/investing 💰
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