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RBI Monetary Policy Update
February 13 , 2022
1018 days
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- RBI’s Monetary Policy Committee (MPC) kept key interest rates unchanged.
- It retained the accommodative stance in its first policy after Union Budget 2022.
- This is the tenth consecutive time that MPC has maintained the status quo.
- MPC kept the repo rate as well as the reverse repo rate unchanged, respectively at 4 percent and 3.35 percent.
- It continued with the ‘accommodative’ stance in the backdrop of high inflation.
- RBI projected GDP growth for Financial Year 2023 at 7.8 percent.
- Real GDP growth of 9.2 percent in Financial Year 2022 (FY 2022) will take the economy above the pre-pandemic level.
- CPI inflation forecast for FY 2022 has been kept at 5.3 percent.
- The current account deficit was below 2 percent of GDP in FY22.
- It proposed to increase the Cap of e-vouchers, from Rs 10,000 to Rs 1 lakh.
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