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RBI August 2024 MPC Meeting

Published on August 07, 2024
Current Context: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) held its meeting from August 5-7, 2024.
RBI August 2024 MPC Meeting
  • Key Decisions:
    • Repo rate unchanged: The MPC decided to maintain the repo rate at 6.50% for the ninth consecutive time.
    • Stance unchanged: The MPC retained the 'withdrawal of accommodation' stance to ensure monetary policy remains vigilant on risks.
    • Growth projection unchanged: The RBI maintained its growth projection for the current fiscal year at 7.2%.
  • Reasons for the Decision:
    • Inflation concerns: While core inflation has eased, food inflation remains a concern, significantly impacting headline inflation.
    • Global uncertainties: The global economic outlook continues to be uncertain with potential risks.

Question:

1 What was the decision regarding the repo rate during the RBI MPC meeting held from August 5-7, 2024?

  • A) Increased to 6.75%
  • B) Decreased to 6.25%
  • C) Unchanged at 6.50%
  • D) Increased to 7.00%
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