December 6, 2024 – The Reserve Bank of India (RBI) in its monetary policy meet today decided to keep the Repo Rate unchanged at 6.5% with a 4:2 majority, for the eleventh straight meeting. Cash Reserve Ratio (CRR) has been cut by 50 basis points (bps) to 4%. The monetary policy stance was maintained Neutral.

The Central Bank also revised the real GDP growth outlook for FY25 substantiallydownward, from 7.2% earlier to 6.6%.

RBI governor Shaktikanta Das today said the Monetary Policy Committee (MPC), in its fifth bi-monthly monetary policy of FY25, has taken note of the GDP growth data for Q2 of FY2025 and that inflation remains the key focus area. It will revise downwards the growth outlook for the financial year accordingly.

RBI has kept the Repo Rate steady after raising it by 250 basis points to 6.5% between May 2022 and February 2023.