Correct option is B
The correct answer is: (b) Kept unchanged at 6.50%
Explanation:
In October 2024, the Reserve Bank of India's Monetary Policy Committee (MPC) decided to maintain the policy repo rate at 6.50%, citing robust domestic growth and concerns over inflation .
In October 2024, the Reserve Bank of India's Monetary Policy Committee (MPC) decided to maintain the policy repo rate at 6.50%, citing robust domestic growth and concerns over inflation .
Information Booster:
Repo Rate: The rate at which the RBI lends money to commercial banks.
Inflation Concerns: Maintaining the rate aimed to control inflation, which had exceeded the RBI's upper threshold of 6.0% in preceding months.
Growth Projections: The RBI projected GDP growth at 7.2% for FY2024-25, reflecting confidence in the economy's resilience.
Cash Reserve Ratio (CRR): In December 2024, the RBI reduced the CRR by 50 basis points to 4%, aiming to boost liquidity in the banking system.
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