MUMBAI, Oct 9: Following are the highlights of the Reserve Bank’s Monetary Policy Committee (MPC) decisions announced by Governor Shaktikanta Das on Wednesday:
* Benchmark short-term lending rate (repo) kept unchanged at 6.5 pc;
* Status quo on rate since February 2023;
* Monetary policy stance changed to ‘neutral’;
* It was the first meeting of reconstituted MPC;
* GDP growth projection for FY25 retained at 7.2 pc;
* GDP growth forecast for Q2 at 7 pc; Q3 at 7.4 pc; and Q4 at 7.4 pc;
* Inflation projection for FY25 retained at 4.5 pc;
* UPI123PAY (for feature phone) per transaction limit doubled to Rs 10,000;
* UPI Lite wallet limit increased to Rs 5,000 and per-transaction limit hiked to Rs 1,000;
* Next meeting of MPC scheduled during December 4 to 6. (PTI)
Follow our WhatsApp channel
