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

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..