RBI downgrades growth, raises inflation target keeps rates unchanged

RBI Monetary Policy latest updates: Reserve Bank of India kept repo rate and reverse repo rate unchanged. Stance remains accommodative which comes as a big relief to the markets. Here are the highlights of the RBI Policy-:

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• Inflation forecast raised, price rise seen at 5.7% in current year 
• RBI Governor: War could impede Indian recovery due to global channels
• Renewed covid concerns in some countries pose downside risk
• RBI downgrades growth outlook, sees GDP growth at 7.2% in the current fiscal year