RBI MPC meeting updates: RBI keeps repo rate unchanged at 6.5%, cuts CRR to 4%

The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%, Governor Shaktikanta Das announced on Friday, December 6, 2024.

This makes it the 11th consecutive time the repo rate has remained unchanged at 6.5%. Meanwhile, the RBI cut the cash reserve ratio (CRR) by 50 basis points to 4%.

This comes at a time when India’s inflation surged to 6.2% in October 2024, breaching the RBI’s tolerance limit and gross domestic product (GDP) growth slowed down to 5.4% for the July-September quarter.

It may also be the final MPC with Governor Das at the helm as his term ends this month. However, it is unknown if he will continue in office or not since he got an extension in 2021 after being appointed in December 2018.