Growth Rebound: RBI retains FY22 GDP growth projection at 9.5%

The Reserve Bank of India (RBI) on Friday retained the FY22 projection for real GDP growth at 9.5 per cent.

Accordingly, RBI Governor Shaktikanta Das pointed out that GDP is expected to grow at 7.9 per cent in Q2, 6.8 per cent in Q3, 6.1 per cent in Q4 and 17.2 per cent in Q1FY23.

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On Friday, the RBI retained its key short-term lending rates during the third monetary policy review of FY22.

Besides, the growth-oriented accommodative stance was retained to give a push to economic activity.

Accordingly, the Monetary Policy Committee of the central bank voted to maintain the repo rate, or short-term lending rate, for commercial banks, at 4 per cent.