Central bank did not change repo rate, interest rates may go up


Central bank did not change repo rate, interest rates may go up

The RBI announced its monetary policy on Friday. The six-member Monetary Policy Committee (MPC) of the RBI did not change the interest rates.

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Shaktikanta Das informed about the decisions taken by the committee. He told that due to Corona virus epidemic, the country’s economy has been greatly affected.

new Delhi. The Reserve Bank of India (RBI) announced its monetary policy on Friday. The six-member Monetary Policy Committee (MPC) of the RBI did not change the interest rates. This committee was led by RBI Governor Shaktikanta Das.

Shaktikanta Das informed about the decisions taken by the committee. He told that due to Corona virus epidemic, the country’s economy has been greatly affected. The committee has not made any change in the repo rate. It remains at four per cent. The MPC has unanimously taken this decision. That is, customers have not got new relief on EMI or loan interest rates.

Das said that the reverse repo rate has also been kept constant at 3.35 per cent. With this, it has been decided not to change the bank rate. It stands at 4.25 percent. The Marginal Standing Facility (MSF) rate is also at 4.25 per cent. The Reserve Bank has projected a 10.5 per cent increase in the country’s GDP in the next financial year 2021-22.

It is noteworthy that this was the first review meeting of the MPC and the final review of the current financial year after the presentation of the General Budget 2021-22. The MPC has not changed interest rates in the last three monetary review meetings. The Reserve Bank had last revised the policy rates on 22 May 2020. The MPC reviews interest rates every two months.

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