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ARTICLE · 11 DECEMBER 2024

AKP Banking & Finance Digest- December 09, 2024

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The Reserve Bank of India ("RBI") held its policy repo rate steady at 6.50 per cent (six point five zero per cent) during the December 2024 Monetary Policy Committee (MPC) meeting. The decision aligns with a neutral.

IndiaFinance and Banking
Anuroop Omkar
Anuroop Omkar

1. Regulatory Updates

1.1. India

1.1.1. RBI maintains repo rate at 6.5 per cent

The Reserve Bank of India ("RBI") held its policy repo rate steady at 6.50 per cent (six point five zero per cent) during the December 2024 Monetary Policy Committee (MPC) meeting. The decision aligns with a neutral monetary stance, emphasising inflation control while supporting growth. India's economy shows resilience despite global uncertainties, with GDP growth for Fiscal Year ("FY") 2024-25 projected at 6.6 per cent (six point six per cent). Inflation remains a concern due to food price pressures, expected to ease by the fourth quarter. Key measures include reducing the Cash Reserve Ratio (CRR) to 4 per cent (four per cent), expanding financial inclusion via Unified Payments Interface ("UPI") credit, and introducing frameworks for Artificial Intelligence ("AI") ethics and digital fraud mitigation. RBI

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