<h1>India's Central Bank Holds Policy Rate Steady at 6.50% Amid Inflation Concerns and Strong GDP Growth Projections.</h1> The Monetary Policy Committee (MPC) of the Reserve Bank of India held its 47th meeting from February 6 to 8, 2024, deciding to keep the policy repo rate unchanged at 6.50%. The committee aims to align inflation with a medium-term target of 4% while supporting economic growth. Despite global uncertainties, India's GDP is projected to grow by 7.3% in 2023-24, driven by strong investment activity. Inflation, primarily due to food prices, remains a concern, with CPI inflation projected at 5.4% for 2023-24. The MPC remains focused on withdrawing accommodation to manage inflation risks.