RBI MPC Meeting: The results of the 44th Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) have been announced today. Giving information about this, Governor Shaktikanta Das said that this time also the repo rate has been kept the same as before. No changes have been made in this. This is now the third time, when there has been no change in the policy rate. It remains at 6.5 percent only. This will not increase the EMI burden on home loan and auto loan borrowers.
What did Shaktikanta Das say after the MPC meeting
RBI Governor Shaktikanta Das said after the MPC meeting that India is moving in the right direction. It will become a global growth engine in the coming times. He further said that India is among the 5th largest economy in the world and our economy is growing continuously. India is well positioned to take advantage of the changes taking place in the global economy. Also, said that India’s economy is contributing about 15 percent in global development. Shaktikanta Das also said that the rising inflation in the country has also added to the concern of the policy makers.
who will get relief
People preparing to take loan from the bank will get benefit due to no change in the policy rate i.e. repo rate. After the decision of RBI, EMI will not be increased on any kind of loan from banks. If the repo rate is increased by the RBI, then it directly affects the loan.
What is the policy rate i.e. repo rate
The rate at which the banks are given loans by the Reserve Bank of India is called the policy rate i.e. Repo Rate. An increase in the repo rate means that banks will get loans from the RBI at a costlier rate. After this, the cost of interest on home loan, car loan and personal loan etc. will also increase. This has a direct impact on the EMI of the common man.
