RBI Repo Rate: RBI Governor Shaktikanta Das said that there is no change in RBI Repo Rate this time. Let’s see the details now.
The 3-day meeting of the 6-member RBI MPC, which began on April 3, concluded today (April 5). RBI Governor Shaktikanta Das will then present the latest monetary policy statement. In this context, he revealed the decisions taken by the MPC on key rates. This time also there will be no change in RBI repo rate. The Reserve Bank’s Monetary Policy Committee (RBI MPC) has decided not to change the repo rate from the current 6.50 per cent.
The last time the repo rate was changed was on 8 February 2023 from 6.25% to 6.50%. He said that even now the same repo rate will continue. This is the seventh time in a row that the repo rate has been kept constant. The next meeting of the RBI MPC will be held in June this year. Till then this repo rate will continue. According to the current rate of inflation, the rate of national development and the signals from the US Fed, everyone thought that the good news of reducing the interest rates will come in our country. It is expected that the EMI burden will be reduced to some extent. But.. with the report that the interest rates are the same, those who have taken bank loans are disappointed for the seventh time in a row.
The 3-day meeting of the 6-member RBI MPC, which began on April 3, concluded today (April 5). RBI Governor Shaktikanta Das will then present the latest monetary policy statement. In this context, he revealed the decisions taken by the MPC on key rates. This time also there will be no change in RBI repo rate. The Reserve Bank’s Monetary Policy Committee (RBI MPC) has decided not to change the repo rate from the current 6.50 per cent.
The last time the repo rate was changed was on 8 February 2023 from 6.25% to 6.50%. He said that even now the same repo rate will continue. This is the seventh time in a row that the repo rate has been kept constant. The next meeting of the RBI MPC will be held in June this year. Till then this repo rate will continue. According to the current rate of inflation, the rate of national development and the signals from the US Fed, everyone thought that the good news of reducing the interest rates will come in our country. It is expected that the EMI burden will be reduced to some extent. But.. with the report that the interest rates are the same, those who have taken bank loans are disappointed for the seventh time in a row.
Repo rate is the rate at which a country’s central bank (Reserve Bank in the case of India) lends to commercial banks in case of any shortage of funds. Monetary authorities use the repo rate to control inflation.
In banking sector repo rate is related to ‘repurchase option’ or ‘repurchase agreement’. When funds are scarce, commercial banks borrow money from the central bank. It will be repaid at the applicable repo rate. The central bank offers these short-term loans against securities such as treasury bills or government bonds. Otherwise.. The reverse repo rate is the interest rate paid by commercial banks when they deposit their excess funds with the central bank or when the central bank borrows money from them.
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