Edition 17 – RBI monetary policy

Stance: The MPC remains focused on withdrawal of accommodation. The RBI will move towards normal monetary policy in a calibrated manner. Repo Rate: Majority of members voted for 50bps hike to 5.9% from 5.4%, this makes the cumulative hike of 190bps. • GDP Growth: The real GDP growth for FY23 has cut from 7.2% to 7%, still highest among major economies.