Talking about the banking crisis in the US, Sitharaman said there is no “contagion risk” for India but cautioned about a potential risk to exports if the big markets are hit by a recession.
This means, the repo rate, which is the primary benchmark interest rate, will remain at 6.5 per cent. The RBI's next monetary policy committee meeting is scheduled to be held from June 6-8, 2023.
The Reserve Bank of India (RBI) is likely to keep the repo rate on hold for now as inflation figures seem to be under control and any reduction in the key interest rate is expected only in the early part of 2024, Morgan Stanley said in a report.
The Reserve Bank of India, in its first monetary policy review meeting in 2023-24, decided to keep the key benchmark interest rate the repo rate unchanged at 6.5 per centr