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The Reserve Bank of India’s Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5% in its June 2024 meeting. The MPC, consisting of three RBI and three external members, maintained the repo rate at 6.5% for the eighth consecutive policy meeting. Four out of six MPC members voted in favor of the repo rate decision. The latest monetary policy decision was unveiled by RBI Governor Shaktikanta Das on June 7. The RBI projected real GDP growth at 7.2% for FY25 and remains committed to aligning inflation to 4% on a durable basis. Retail inflation eased slightly to 4.83% in April but was still above the MPC’s target. The economy expanded at 7.8% in the March quarter, exceeding expectations. Overall, the RBI’s June 2024 monetary policy review aimed to strike a balance between inflation management and supporting growth. Various experts expect the RBI to maintain a status quo on interest rates while closely monitoring inflation trends and economic growth indicators.