RBI Monetary Policy: The Reserve Bank has today issued the first credit policy for the financial year 2022-23 and in this RBI Governor Shaktikanta Das has said that the impact of geopolitical tensions is coming on many economies. India can also be affected by the Russia-Ukraine war and our economic development can have a negative effect, so this is a challenging time for India.
Repo rate retained at 4 percent – change in reverse repo rate
The Reserve Bank has not changed the policy rates in its monetary policy review today and has retained the repo rate at 4 per cent. Apart from this, the reverse repo rate has been increased by 40 basis points to 3.75 percent. Apart from this, the cash reserve ratio has also been retained at 4 percent. Let us tell you that this is the 11th consecutive monetary policy in which RBI has not made any change in the rates.
Inflation forecast to increase – RBI
Reserve Bank Governor Shaktikanta Das said in his address that the inflation rate in the country is expected to increase and the RBI’s accommodative stance on policy rates remains intact. Monsoon is expected to be normal this year. Retail inflation is projected to come in at 5.7 per cent in the financial year 2022-23. Let us tell you that between April 6 and April 8, a meeting of the monetary policy review has been held and decisions have been taken on the basis of the opinion of the members of the MPC on many issues including the country’s GDP growth, inflation rate.