Your EMI will not change, Reserve Bank has not made any change in Repo Rate and Reverse Repo Rate
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RBI Monetary Policy: The Reserve Bank of India has not made any change in the interest rates in the meeting of the Monetary Policy Committee (MPC). The RBI governor has kept interest rates stable for the 8th time in a row. RBI Governor Shaktikanta Das said that this quarter also the repo rate will remain stable at 4 percent and the reverse repo rate rate will remain unchanged at 3.55 percent. Marginal Standing Facility Rate (MSFR) and Bank Rate will be 4.25 percent. The 6-member Monetary Policy Committee (MPC) has released the interest rates today after a three-day meeting.
Governor will address the media at 12 o’clock
Let us tell you that Shaktikanta Das has kept the policy stance acommodative. Today RBI Governor Shaktikanta Dar will address the media at 12 o’clock today. Due to the Corona epidemic, the focus of the Reserve Bank is currently on reducing inflation and economic growth.
improvement in agri sector
In the press conference, RBI Governor Shaktikanta Das said that there has been some improvement in India’s situation this time as compared to the last meeting. At the same time, there is a good recovery in the growth of consumption and agri sector. At the same time, there is still a need for improvement in the industrial and service sector. The Monetary Policy Committee has retained the GDP growth rate at 9.5 per cent for the fiscal year 2021.
The meeting started on 6 October
The meeting of the Reserve Bank of India’s Monetary Policy (RBI Monetary Policy) started on 6 October, the results of which have been released today i.e. on 8 October. The central bank last changed the repo rate in May 2020. In May, the RBI had cut the repo rates by 0.40 percent, after which the repo rate was reduced to four percent.
The economy was affected due to the pandemic
In the year 2020, the country’s economy was badly affected due to the Corona epidemic. To bring the economy back on track and reduce the burden of the general public, the government had announced a cut in the repo rate. There is no change in interest rates continuously since May 2020.
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