The Monetary Policy Committee (MPC) under Reserve Bank of India met on 7th February, 2018 to release Sixth Bi-monthly monetary policy statement for 2017-18.
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to:
- Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent
- The reverse repo rate under the Liquidity Adjustment Facility (LAF) remains at 5.75 per cent
- The marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent
- India’s foreign exchange reserves were at US$ 421.9 billion on February 2, 2018.
- Inflation is now estimated at 5.1 per cent in Q4
- GVA growth for 2017-18 is projected at 6.6 per cent
- GVA growth for 2018-19 is projected at 7.2 per cent overall
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