Chennai, June 8 : The second bi-monthly monetary policy meeting of FY24 was held from June 6 to 8 and its outcome were announced today. The Standing Deposit Facility (SDF) rate has been pegged at 6.25 per cent. The central bank has kept bank rates at 6.75 per cent.

It is a pause in this meeting, not a pivot. RBI’s future action will depend on evolving situation. Our efforts will be to align our actions to reach the 4% inflation target. 

RBI’s actions are primarily determined by domestic factors. We do not look at actions of other central banks to determine our action: RBI Governor Shaktikanta Das.

He added that by a majority of five out of six members, MPC has unanimously agreed to the withdrawal of the accomodative stance to tackle inflation.