The fifty first meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during October 7 to 9, 2024.

Tenor 3-day Notified Amount (in ₹ crore) 1,25,000 Total amount of offers received (in ₹ crore) 54,755 Amount accepted (in ₹ crore) 54,755 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a second Variable Rate Reverse Repo (VRRR) auction on October 18, 2024, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,25,000 3 12:00 Noon to 12:30 PM October 21, 2024 (Monday)

Tenor 13-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 20,073 Amount accepted (in ₹ crore) 20,073 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 18, 2024, Friday, as under:

Tenor 1-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 40,385 Amount accepted (in ₹ crore) 40,385 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 17, 2024, Thursday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 75,000 1 12:00 Noon to 12:30 PM October 18, 2024 (Friday) 2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

The Reserve Bank has today released data on Reserve Money for the week ended October 11, 2024 and Money Supply for the fortnight ended October 04, 2024.

Tenor 1-day Notified Amount (in ₹ crore) 50,000 Total amount of offers received (in ₹ crore) 38,133 Amount accepted (in ₹ crore) 38,133 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 16, 2024, Wednesday, as under:

Tenor 2-day Notified Amount (in ₹ crore) 50,000 Total amount of offers received (in ₹ crore) 26,060 Amount accepted (in ₹ crore) 26,060 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 15, 2024, Tuesday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 2 11:00 AM to 11:30 AM October 17, 2024 (Thursday) 2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Tenor 4-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 24,070 Amount accepted (in ₹ crore) 24,070 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 14, 2024, Monday, as under:

Tenor 3-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 45,260 Amount accepted (in ₹ crore) 45,260 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 11, 2024, Friday, as under

This Statement sets out various developmental and regulatory policy measures relating to (i) Regulations; and (ii) Payment Systems. I. Regulations 1. Responsible Lending Conduct – Levy of Foreclosure Charges/ Pre-payment Penalties on Loans

The flexible inflation targeting (FIT) framework has completed 8 years since its introduction in 2016. This is a major structural reform of 21st century in India. It stands out for its committee approach to decision making; transparency of policy making process and communication; accountability hinging upon quantitatively defined inflation target; and operational independence. Over the years, the framework has matured across various interest rate cycles and monetary policy stances.

Monetary Policy Decisions After assessing the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (October 9, 2024) decided to: Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The MPC also decided to change the monetary policy stance to ‘neutral’ and to remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. 

The Reserve Bank has today released data on Reserve Money for the week ended October 04, 2024.