CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank has launched the 98th round of the quarterly Industrial Outlook Survey (IOS) of the Indian manufacturing sector for the reference period April-June 2022.

Detailed explanation-2: -On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (September 30, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 5.90 per cent with immediate effect.

Detailed explanation-3: -The key repo rate has been hiked on 7 December 2022 by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) by 35 basis point to 6.25%. The policy repo rate was increased from 4.00% to 4.40%, by 40 basis points (bps), on 4 May 2022, and then from 4.40% to 4.90% on 8 June 2022, by 50 basis points.

Detailed explanation-4: -RBI MPC Meeting December 2022: RBI Governor Shaktikanta Das announced that the monetary policy committee (MPC) hiked the repo rate by 35 basis points (bps) to 6.25 per cent. The central bank also cut growth forecast for the current financial year to 6.8 per cent.

Detailed explanation-5: -The median headline inflation rate projected by the RBI survey of Professional Forecasters conducted in November 2022 is at 6.6 per cent for Q3: FY 2022-23 and 6.1 per cent for Q4: FY 2022-23, with 6.7 per cent for the financial year as a whole.