Highlights of RBI's monetary policy

Following are the highlights of the Reserve Bank's second bi-monthly monetary policy for 2023-24: * Repo rate remains unchanged at 6.5 pc * Maintains pause for 2nd time in a row * Standing deposit facility rate remains at 6.25 pc * Marginal standing facility rate and bank rate unchanged at 6.75 pc * Inflation forecast for FY24 marginally lowered to 5.1 pc * GDP growth projection retained at 6.5 pc for FY24 * Growth for Q1 pegged at 8 pc; Q2 6.5 pc, Q3 6 pc, and Q4 5.7 pc * CAD expected to have moderated further in Q4:2022-23, remain eminently manageable in FY24 also * RBI permits non-bank PPI issuers to issue e-RUPI vouchers * Banks to issue RuPay Prepaid Forex cards * Minutes of MPC's meeting to be published on June 22 * Next meeting of MPC scheduled for August 8-10, 2023.