RBI Monetary policy

The RBI kept interest rates unchanged for the sixth time in a row! There were a few analysts who thought the RBI could push for a 25 bps rate cut because core inflation is below 4%, but the central bank didn’t go for that.
The RBI has projected a FY24 GDP growth rate of 7%. This is lower than the GOI’s estimate of 7.3%. Finally, the central bank maintained its “withdrawal of accommodation” stance, which means interest rates might not be cut anytime soon!