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The RBI Monetary Policy Committee (MPC) decided to hike the repo rate by 50 basis points. In the current financial year, the RBI has raised the repo rate by 190 bps. RBI will remain focused on withdrawal of accommodation after this revision too.The rates after revision are as follows- Repo Rate 5.9 % Standing Deposit Facility (SDF) 5.65% Marginal Standing Facility Rate 6.15% Bank Rate 6.15% Fixed Reverse Repo Rate 3.35% CRR 4.50% SLR 18.00% The MPC panel also cut its gross domestic product (GDP) growth forecast for FY23 to 7% from 7.2%, with Q2 at 6.3%, Q3 at 4.6% and Q4 at 4.6%. The Reserve Bank retained its inflation projection for current fiscal year at 6.7 per cent amid global geopolitical developments triggered by the Russia-Ukraine war. For the September quarter of 2022-23, RBI projected retail inflation at 7.1 per cent. For third quarter, inflation is estimated at 6.5 percent and further down to 5.8 per cent in March quarter. For first quarter of next fiscal year, retail inflation is projected at 5 percent.
By which fiscal year is India projected to become the third-largest economy?
What is the name of the train initiated by IRCTC to boost tourism after the historic inauguration of the Ram Mandir in Ayodhya?
Subansiri Lower Hydro Electric Project (SLHEP) is located on the border of which two states?
Who is the newly appointed Chairman of Max Life Insurance?
Which state government has recently launched DRIMS platform in collaboration with UNICEF to facilitate efficient disaster reporting and aid delivery?
In February 2024, who was named the recipient of the People's Choice Award for Wildlife Photographer of the Year?
The book ‘Experiments with Truth’ is based on whose life?
Bhed Mata Mela is associated with which animal?