RBI keeps repo rate untouched at 6.5%

07 Jun 2024 CW Team

The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, stated that the retail inflation rate is still higher than the MPC's objective of 4%, which is why the MPC opted to maintain the policy repo rate at 6.5%. The choice was made in the midst of worldwide and domestic economic uncertainty. According to the RBI Governor, the MPC made the majority decision to maintain the current repo rate. He conveyed that upon the realisation of the projected GDP growth of 7.2% for 2024?25, it would mark the fourth consecutive year of growth at or above 7%. He noted that the headline CPI has been following a disinflationary trajectory, with monetary policy playing a significant role in this trend. He highlighted a decline in headline inflation by 2.3 percentage points between the first quarter of 2022?23 and the fourth quarter of 2023?24, attributing it to both supply-side developments and government measures. However, he acknowledged that repeated food price shocks had impeded the overall disinflation process. Regarding the rates, he mentioned that the standing deposit facility (SDF) rate remains at 6.25%, with the marginal standing facility (MSF) rate and the bank rate staying at 6.75%. Governor Shaktikanta Das underscored the importance of adopting a balanced approach to monetary policy. He reaffirmed the Monetary Policy Committee's commitment to gradually withdrawing accommodation to ensure inflation aligns with the targeted range. He emphasised that monetary policy must persist in its disinflationary stance and steadfastly work towards aligning inflation with the 4% target on a durable basis to sustain price stability. The RBI revised its growth projections for the current financial year 2024?25, forecasting a GDP growth rate of 7.2 %. The quarterly growth projections stand at 7.3 % for Q1, 7.2 % for Q2, 7.3 % for Q3, and 7.2 % for Q4.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..