The RBI Governor Shaktikanta Das heading a six-member Monetary Policy Committee MPC announced the resolution today.
The RBI kept has decided to keep the repo rate unchanged at 4 per cent. The reverse repo rate stands at 3.35 per cent. The real GDP growth is projected at 7.8 per cent for FY22-23. The FY23 inflation target is reduced to 4.5 per cent.
The Nifty Bank and Financial Services continued the winning streak on Thursday and rose further after RBI maintained the status quo in line with the street’s expectations. The indexes gained around 1 per cent with financial stocks advancing 1.5 per cent and PSU Bank stocks were subdued in gains. Huge selling was seen by FII of Rs 892.64 crore and the DII of inflow of Rs 1793.35 crore was recorded.