RBI Monetary Policy 2024 Highlights: RBI keeps repo rate unchanged; FY25 GDP growth projected at 7%; inflation at 4.5%

Syllabus: GS-III  Subject: Economy  Topic: Monetary policies and instruments. Issue: Price stability.

Context: RBI Monetary Policy 2024.

Key Highlights:

  • Policy stance maintained at ‘withdrawal of accommodation’.
  • A scheme for trading sovereign green bonds at IFSC to be introduced.
  • Introduction of a mobile app for RBI’s Retail Direct Scheme access.
  • Small finance banks permitted to deal in rupee interest rate derivative products.
  • UPI enabled for Cash Deposit Facility.
  • UPI access for Prepaid Payment Instruments through third-party apps.
  • Distribution of Central Bank Digital Currencies (CBDCs) through Non-bank Payment System Operators.

Prelims Connect:

Prelims Connect:


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