RBI Monetary Policy October 2023: 5 Key Highlights

By Editorji News Desk
Published on | Oct 06, 2023


The Reserve Bank of India held its MPC meet for three days from October 4 to October 6.

Repo Rate unchanged

RBI MCP left the repo rates unchanged at 6.5% and maintained the withdrawal of accommodation stance

Inflation remains a big focus

RBI Governor mentioned that the fight against inflation is not over yet and that the RBI's target is 4% inflation and not between 2%-6%

Growth forecast retained

RBI kept the GDP growth forecast for FY24 unchanged at 6.5% with Q2 GDP growth forecast unchanged at 6.5%, Q3 unchanged at 6%, Q4 at 5.7%

RBI mulls OMO sales

RBI may consider Open Market operation sales of government securities to manage liquidity

Card-on-file Tokensation

To enhance the convenience of cardholders, RBI governor has proposed to introduce card-on-file tokenisation creation facilities directly at the bank

Credit card offers