Updated resolution to monetary policy
According to the MONETARY POLICY STATEMENT 2021-22 by Shri Shaktikanta Das
(Governor) the updated resolution has came
- The policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent
- the reverse repo rate under the LAF remains unchanged at 3.35 per cent
- the marginal standing facility (MSF) rate and the Bank Rate unchanged at 4.25 per cent
- consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent
- CPI inflation plateaued at 6.3 per cent in June after having risen by 207 basis points in May 2021.
- cash reserve ratio has expanded by 11% y-o-y on july 30 2021
- money supply (M3) and bank credit by commercial banks grew by 10.8 per cent and 6.5 per cent,
- CPI inflation is projected for 2021-22
- Q1-5.7%
- Q2-5.9%
- Q3- 5.3%
- Q4- 5.8%
- And for Q1 of 2022-23 is 5.1%
- projection for real GDP growth is retained at 9.5 per cent in 2021-22
- 21.4 per cent in Q1
- 7.3 per cent in Q2
- 6.3 per cent in Q3
- 6.1 per cent in Q4 of 2021-22
- Real GDP growth for Q1:2022-23 is projected at 17.2 per cent.
These are the updated rates from the last monetary policy report came in July 2021
