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The October consumer price index (CPI) came at a four-month low of 4.87 percent against 5.02 percent the previous month.

RBI has reiterated its inflation target at 4 percent and aims to align inflation to the target on a durable basis, while supporting growth.

Indias foreign exchange reserves stood at $586.9 billion for the week ending September 29, RBI governor Shaktikanta Das announced during the MP meet on Friday.

MPC voted to remain focused on withdrawal of accommodation by 5 votes to 1, said RBIs Shaktikanta Das while announcing the committees decision. FY24 inflation projection unchanged at 5.4 percent.

This is in-line with expectations of a majority of economists who estimated no change in RBIs key rates.

Governor Das further added the monetary policy committee is committed to aligning Indias headline inflation at 4 per cent level.

The Reserve Bank of Indias Governor, Shaktikanta Das, stated that Indias economy remains resilient despite global trends. He mentioned that domestic economic activity is strong due to robust domestic demand. However, Das also warned of risks to Indias outlook, including geopolitical tensions, global economic slowdown, and uneven monsoon. The panel projected Indias real GDP growth for 2023-24 at 6.5% and emphasized the need to remain vigilant.

RBI keeps repo rate unchanged at 6.5 per cent. Policy stance also uncanged at withdrawal of accommodation.

Reserve Bank of India (RBI) Governor Shaktikanta Das in the Monetary Policy Committee meeting announcements stated that GDP growth for 2023-24 is projected at 6.5 percent.

Real estate experts said the RBIs decision to maintain the repo rate at 6.5% during the ongoing festive season is indeed a boon for home buyers.