Economic Update: RBI maintains interest rates at 6.5%, lowering growth forecasts to 6.6%.
Economic Update: RBI maintains interest rates at 6.5%, lowering growth forecasts to 6.6%.
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The Reserve Bank of India (RBI) has revised its growth forecast for the 2024-25 financial year, lowering it from 7.2% to 6.6%. This adjustment follows a reported GDP growth of 5.4% year-on-year for the quarter ending in September, marking the weakest performance in nearly two years. Despite this, the RBI has maintained its benchmark policy interest rate at 6.5%, citing concerns over rising inflation.The Reserve Bank of India (RBI) has revised its growth forecast for the 2024-25 financial year, lowering it from 7.2% to 6.6%. This adjustment follows a reported GDP growth of 5.4% year-on-year for the quarter ending in September, marking the weakest performance in nearly two years. Despite this, the RBI has maintained its benchmark policy interest rate at 6.5%, citing concerns over rising inflation.
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