Monetary policy statement (July-December) FY 2024-2024 at a glance:
1. The top priority is to keep control of inflation.
2. Bring down Inflation by around 6.5 percent at the end of FY25.
3. Tight Monetary Policy stance.
4. Refraining from creating new money for government spending.
5. Alleviate exchange rate pressure by bolstering RFCD, NFCD, and the Offshore Banking Act 2024 to boost forex reserves.
6. Crawling Peg mid-rate is unchanged at 117.00 per USD.
7. Continue credit support to agriculture and CMSMEs.
8. Measures to reduce NPLs and improve governance within banks, emphasizing transparency, governance, and operational efficiency.
9. Address the microeconomic factors of price stability, exchange rate stability, financial sector stability, and fiscal constraint.
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