TaxTMI 
TaxTMI 
Highlights of RBI monetary policy
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....ighlights of RBI monetary policy <br>News and Press Release<br>Dated:- 5-8-2022<br><BR>Mumbai, Aug 5 (PTI) Following are the highlights of the RBI's fourth monetary policy review of fiscal year 2022-23 announced by Governor Shaktikanta Das: * Key short-term lending rate (repo) raised by 50 basis points (bps) to 5.4 per cent; third consecutive hike * In all, 140 bps hike in repo since May 202....
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....2 to check inflation * GDP growth projection for 2022-23 retained at 7.2 per cent (pc). * GDP growth projection: Q1 at 16.2 pc; Q2 at 6.2 pc; Q3 at 4.1 pc; and Q4 at 4 pc * Real GDP growth for Q1:2023-24 projected at 6.7 per cent * Domestic economic activity exhibiting signs of broadening * Retail inflation projection too retained at 6.7 pc for 2022-23 * Inflation projection: Q2 at 7.1 pc; Q....
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....3 at 6.4 pc; and Q4 at 5.8 pc; Q1:2023-24 at 5 pc * India witnessed large portfolio outflows of USD 13.3 billion in FY23 up to August 3 * Financial sector well capitalised and sound * India's foreign exchange reserves provide insurance against global spillovers * Monetary Policy Committee decides to remain focused on withdrawal of accommodative stance to check inflation * Depreciation of ....
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....rupee more on account of appreciation of US dollar rather than weakness in macroeconomic fundamentals of the Indian economy * RBI to remain watchful and focused on maintaining stability of rupee * Rupee depreciated by 4.7 pc against US dollar this fiscal year till August 4 * India's foreign exchange reserves remain fourth largest globally * Mechanism to be activated to allow NRIs to use Bh....
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....arat Bill Payment System for payments of utility and education on behalf of their families in India * Next meeting of rate-setting panel scheduled for September 28-30, 2022<BR> News - Press release - PIB....