Inquisitive Mind

The bi-monthly monetary policy of Reserve Bank of India (RBI) was announced on June 08, 2023. Here are some of the highlights of the monetary policy announcement. Rates and reserves   Change Revised rate Policy repo rate Unchanged 6.50% Standing deposit facility (SDF) rate 6.25% Marginal standing facility (MSF) rate 6.75% Bank rate 6.75% Monetary policy stance Withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth. Economy    GDP growth projection CPI inflation projection FY 2023-24 6.5% 5.1% Q1 of FY 2023-24 8.0% 4.6% Q2 of FY 2023-24 6.5% 5.2% Q3 of FY 2023-24 6.0% 5.4% Q4 of FY 2023-24 5.7% 5.2% Domestic macroeconomic fundamentals are strengthening – economic activity is exhibiting resilience; inflation has moderated; the current account deficit has narrowed; and foreign exchange reserves are comfortable. The Indian banking system remains stable and resilient, credit growth is robust and domestic financial mar...

Reserve Bank of India (RBI) has released the report of the Committee for Review of Customer Service Standards in RBI Regulated Entities. Committee for Review of Customer Service Standards in RBI Regulated Entities Announcement regarding setting-up of the Committee for Review of Customer Service Standards in RBI Regulated Entities was made by RBI in its bi-monthly Monetary Policy Review Statement dated April 08, 2022.  The Committee was constituted on May 23, 2022 under the chairmanship of Shri B P Kanungo, former Deputy Governor, RBI, to examine and review the state of customer service and internal grievance redress in the Regulated Entities (REs) along with the adequacy of extant customer service regulation and suggest measures to bring about improvements, keeping in view the revolutionary transformation underway on account of the rising customer base of the REs, advent of innumerable digital products and services, emergence of new technology platforms and service providers for se...