Know Important Points Related to RBI Monetary Policy August 2023

The Reserve Bank of India held its monetary policy meeting on 8-10 August 2023. The meeting took important decisions to address inflation and growth.

What is RBI Monetary Policy

The Monetary Policy is a set of measures taken by the RBI to influence the money supply, interest rates, and exchange rates in the Indian economy.

RBI Monetary Policy August 2023 Summary

RBI keeps Repo-Rate unchanged at 6.5 %

Standing Deposit Facility (SDF) rate: 6.25% Marginal Standing Facility (MSF) rate and Bank Rate: 6.75% Cash Reserve Ratio (CRR): 4.5%

It means that there will be no change in the monthly installments (EMIs) for other loans, including housing and vehicle loans.

RBI GDP Growth projection for year 2023-24 will be expected at 6.5%

Consumer Price Index (CPI) projection raised from 5.1 % to 5.4%

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