RBI Monetary Policy Online UPSC Preparation IAS IFS, CDS Exam and AC(CAPF) Exam



Imp. for IAS~IFoS Prelims Exam, CDS Exam and AC(CAPF) Exam


🖊 MPC kept the repo rate as well as reverse repo rate unchanged, respectively at 4 percent and 3.35 percent.

🖊 It continued with the ‘accommodative’ stance in the backdrop of high inflation.

🖊 Real GDP growth of 9.2 percent in Financial Year 2022 (FY 2022) will take economy above pre-pandemic level.

🖊 RBI projected GDP growth for Financial Year 2023 at 7.8 percent.

🖊 CPI inflation forecast for FY 2022 has been kept at 5.3 percent. It is expected to reach 4.00 percent target in second quarter of FY23

🖊 Current account deficit was below 2 percent of GDP in FY22.

What is Current account deficit? 

✏  The current account measures the flow of goods, services, and investments into and out of the country.

✏   It represents a country’s foreign transactions and, like the capital account, is a component of a country’s Balance of Payments (BOP).

 What is Monetary Policy Committee

✏ MPC is responsible for fixing benchmark interest rate in India.

✏   It held meetings at least 4 times in a year.

✏ The committee has six members:

✏  3 officials of the RBI and

✏ 3 external members nominated by Government of India. 

✏ Governor of RBI acts as the chairperson ex officio of MPC


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