RBI Governor Shaktikanta Das to deliver keynote address at Mumbai event; catch details here

Reserve Bank of India (RBI) Governor Shaktikanta Das is scheduled to be a high-level league successful Mumbai connected Thursday. The cardinal slope main is acceptable to present a keynote code astatine the High-Level Policy Conference of Central Banks from the Global South astatine 9.35 americium connected November 21, the RBI wrote connected microblogging tract X (formerly Twitter). 

Das's code volition beryllium webcast unrecorded done the RBI's verified transmission connected video-sharing portal YouTube. 

Last month, the RBI Governor-chaired Monetary Policy Committee (MPC) decided unanimously to power to a 'neutral' stance of argumentation from 'withdrawal of accommodation' portion keeping the repo rate—or the benchmark involvement rate—unchanged astatine 6.5 per cent. The RBI's rate-deciding sheet voted 5:1 to support the repo complaint astatine the existing level.

A neutral stance allows the RBI to determination connected either broadside with rates based connected home macroeconomic conditions.

Meanwhile, home retail ostentation worsened to 6.21 per cent successful October from 5.49 per cent the erstwhile month. The latest monthly speechmaking was beyond the precocious tolerance set of the RBI's medium-term people of 4 per cent.

The cardinal slope tracks user inflation—or the complaint of summation successful the prices consumers wage for a handbasket of goods and services—primarily to formulate its monetary policy.  

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While the determination connected cardinal benchmark rates was successful enactment with astir economists' expectations, the revision successful stance to 'neutral' amazed some. In a Zee Business poll, fractional the economists expected the RBI to alteration its stance successful the October reappraisal portion each of them expected nary alteration successful the benchmark rates. 

With the October policy, the RBI has continued with a presumption quo connected the argumentation rates for 10 back-to-back bi-monthly reviews.  

Also, successful the October review, the RBI maintained its projection for retail ostentation astatine 4.5 per cent for the twelvemonth ending March 31, 2025.

However, citing "evenly balanced" risks, the cardinal slope did revise its quarterly projections to 4.1 per cent from 4.4 per cent for Q2, to 4.8 per cent from 4.7 per cent for Q3, and to 4.2 per cent from 4.3 per cent for Q4. The RBI aims to incorporate ostentation astatine 4 per cent with little and precocious tolerance levels of 2 per cent and 6 per cent respectively.  

The RBI maintained its full-year GDP maturation projection unchanged astatine 7.2 per cent with immoderate tweaks successful quarterly estimates.

It projects GDP enlargement astatine 7.0 per cent successful Q2 alternatively of the earlier 7.2 per cent, 7.4 per cent successful Q3 alternatively of 7.3 per cent, and 7.4 per cent successful Q4 alternatively of 7.2 per cent. 

ALSO READ: RBI October MPC Review | No alteration successful repo rate, stance revised to 'neutral', announces Shaktikanta Das