Key Points
Country's largest commercial lender State Bank of India (SBI) said that domestic GDP growth is now on firm footing with urban demand showing good traction, while the lagging rural demand is a cause of concern...
The apex bank has also revised GDP growth marginally upwards from 6.4 per cent to 6.5 per cent for the current financial year...
In its 'Ecowrap' research report, SBI said that the GDP growth forecast of the apex bank RBI for the current fiscal has undergone some change since April 2023...
The report said that the series of rate hikes in the recent past had resulted in falling unemployment rate, signifying that the apex bank had been able to trim the excess labour demand in the market without contraction in employment...
It further said that the declining current inflation as well falling inflationary expectations for the next financial year gives a clear signal that the apex bank will be able to control the rate of price rise by a series of previous rate hikes having its lagged impact, within the tolerance band...
You might be interested in
RBI meet starts today; panel likely to stay put on rates as CPI inflation beyond comfort zone
03, Apr, 24RBI's MPC is expected to maintain 6.5% repo rate amid inflation above 4%. Shift to 'neutral' stance is possible. GDP growth strong, rate cuts unlikely.
From steady growth to lower inflation: 6 key takeaways from RBI Annual Report 2022-23
30, May, 23The central bank said in its report that India remains in an advantageous position despite the global economic turbulence that has hurt many major countries across the world.
Can India's central bank be a lone wolf on policy measures as US mulls rate cut?
07, Dec, 23The Reserve Bank of India's Monetary Policy Committee (MPC) is expected to keep benchmark lending rates unchanged for the fifth consecutive time. The relatively favorable macroeconomic indicators in India, with easing retail inflation and a GDP growth rate of 7.8% in Q2FY24, provide confidence to chart its own path, independent of US Federal Reserve, European Central Bank and Bank of Japan
CareEdge expects India's GDP to grow 7.6pc in current financial year 2023-24
30, Mar, 24New Delhi [India], March 29 (ANI): CareEdge Ratings expects India’s GDP to growth at 7.6 per cent in 2023-24 ending on March 31, and around 7 per cent in the next financial year 2024-25. According to the rating agency, the economic growth in the current financial year was supported by a strong growth in investment […]
RBI raises FY24 growth forecast to 7%, holds rates for 5th time in a row
09, Dec, 23The RBI on Friday raised the GDP growth projection for the current fiscal year to 7% from the earlier 6.5% and kept interest rates on hold for the fif
RBI may hold rate yet again to focus on inflation management, say experts
31, Mar, 24RBI expected to maintain key rate in April amid strong GDP growth. MPC to consider global cues. Forecast suggests rate cut unlikely before August 2024, emphasizing inflation targeting.
RBI Monetary Policy: Rate-pause may continue on CPI inflation, GDP print: Key indicators to watch
05, Oct, 23The review by the six-member MPC led by Das will likely indicate the course RBI will adopt in the remainder of the financial year as it seeks to strike a fine balance between maintaining growth and keeping inflation under control amid high crude oil prices and surging US bond yields.
Status quo for the 7th time? RBI MPC may not let rains ruin repo rate, stance this time around
04, Apr, 24The RBI MPC is expected to maintain the repo rate at 6.5 per cent, focusing on 'withdrawal of accommodation' stance, as per economists. If the RBI sticks to the current rates, it will mark the seventh consecutive time the key lending rate remains unchanged. RBI Governor Shaktikanta Das will reveal the outcome of the bimonthly meeting that began on April 3, with the decision scheduled for April 5 at 10 am.
Status quo to continue? RBI may retain repo rates and focus on liquidity tightening; GDP aim may see uptic
07, Dec, 23RBI MPC Meeting: The Reserve Bank of India's Monetary Policy Committee (MPC) is expected to maintain the repo rate at 6.5% for the fifth consecutive time, focusing on liquidity tightening. RBI Governor Shaktikanta Das will announce the decision post the committee's meeting, considering moderate inflation and robust H1 economic growth.