RBI Retains Key Rates and Forecasts in Bi-Monthly Policy Announcement

The Reserve Bank of India (RBI) has retained its benchmark interest rate at 6.5% for the ninth time. The RBI remains committed to controlling inflation while supporting growth, with GDP growth and retail inflation forecasts for FY'25 remaining at 7.2% and 4.5%, respectively. Key regulatory changes include enhancements in digital lending and UPI systems.

The Reserve Bank of India (RBI) announced on Thursday that it has retained its benchmark interest rate at 6.5% for the ninth consecutive time.

Despite the unchanged rates, the RBI maintains its focus on controlling inflation and supporting economic growth, retaining the forecasts for GDP growth and retail inflation for FY'25 at 7.2% and 4.5%, respectively.

The announcement also outlined various regulatory measures, including the establishment of a public repository for digital lending apps to eliminate unauthorized players, the introduction of 'Delegated Payments' through UPI, and enhancements in cheque clearance processes.

(With inputs from agencies.)