Livestream of the RBI MPC Meeting: The RBI maintains the status quo, keeping the repo rate at 6.5% and maintaining the policy stance of Withdrawal of Accommodation. 6.5% GDP growth is anticipated for FY24.

10:13 AM: Livestream of the RBI MPC Meeting: RBI Governor Shaktidanta Das claims rural demand is on the upswing

10:12 AM: The average system liquidity is in excess mode and may rise if banks receive deposits of Rs 2k notes: Das

10:10 AM Inflation likely stay above 4% in FY24 . As per the latest data, headline inflation is still over the target and is predicted to do so in 20230–2024: RBI Good

10:08 AM: RBI maintains the MSF rate at 6.75%.

10:06 AM: The MPC also resolved to continue concentrating on the withdrawal of accommodations by a vote of five out of six members.

10:05 AM: RBI keeps the repo rate at its current level.

10:05 AM: The RBI has kept its stability-focused approach. Das said, domestic macroeconomic fundamentals are improving.

10:04 : Global policy normalisation is still far from complete, Das Said.

10:03 AM:  The fact that the Indian economy and financial sector stand out as sturdy gives us satisfaction, says Das.

Despite the fact that retail inflation dropped to an 18-month low of 4.7% in April of this year and may even go lower, the RBI is likely to wait to see how the Monsoon develops. The monsoon strongly affects not just the demand in rural areas and agricultural output, but also the trajectory of inflation as a whole. Therefore, it would be reasonable to believe that the RBI will maintain the current REPO rate of 6.5 percent, according to Mr. Deepak Sood, secretary general of ASSOCHAM.

09:44 AM - OECD on rates: Rates are anticipated to remain constant after one more slight increase until the end of the year, when data will be available to determine if core inflation, which is less susceptible to weather and geopolitical concerns, has significantly decreased.

RBI MPC LIVE: RBI Governor to announce policy stance today; will repo rate change again?

Ahead of RBI Monetary Policy, Rupee opens 4-ps lower at 82.59 against USD