The MPC is a six-member committee comprising Das, Rajiv Ranjan, Ashima Goyal, Shashanka Bhide, Jayanth Varma, and Michael Patra, which held meetings on the 3rd, 5th and 6th of April 2023. The decision to keep the repo rate was a unanimous one.
While the central bank has increased rates, it called the Indian economy resilient
The central bank hiked repo rate by 50 basis points to 5.4 per cent
The Monetary Policy Committee focuses on ensuring that inflation remains within the target range, while supporting growth
The central bank had earlier projected a GDP growth projection of 10.5 per cent