RBI’s GDP Projection


● The GDP growth projection of the Indian country was downgraded by the Reserve Bank of India (RBI) due to the rising geopolitical tensions and sanctions.
● For the financial year 2022-23, the GDP was projected at 7.2%, as previously it was projected at 7.8%.
● The Economic Survey in January had projected a growth rate of 8%-8.5% for the current fiscal year.
● The inflation rate for the current fiscal was projected at 5.7%, which is risen from 4.5%.
● In the recently held Monetary Policy Committee (MPC), the Central Bank fixed the following interest rates;
○ Repo rate: 4% - remains unchanged for the 11th straight time.
○ Reverse Repo Rate: 3.35%.
○ Marginal standing facility (MSF) rate: 4.25%.
○ Bank rate: 4.25%.

Facts to know:

● Reserve Bank of India (RBI) was established on 1, April 1935 in Kolkata.
● Headquarters of RBI: Mumbai.
● The Monetary Policy Committee (MPC) was established in 2016. 
● RBI Governor as its ex officio chairperson of the MPC.

RBI Monetary policy
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