RBI Keeps Repo Rate Unchanged; EMIs Remain High for Now

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The Reserve Bank kept the repo rate unchanged. As a result, the repo rate remained at 5.25 percent. The RBI did not change the repo rate in the first decision taken after the budget. They hold a meeting of the Monetary Policy Committee every two months. All economic decisions and strategies are taken there.

However, economic experts had been thinking from the beginning that the repo rate could remain unchanged. After a long period of tension, a trade agreement has been signed with America. Economic experts believe that such a decision was taken without taking any risks in such a situation.

RBI Governor Sanjay Malhotra said, “Despite geopolitical uncertainties causing difficult situations in the external world, the Indian economy continues to grow. Just as economic stability is maintained when inflation is at a healthy level, growth also continues. We are committed to meeting the needs of the economy and continuing the pace of growth.”

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Sanjay also claimed that India remains in the same place as a fast-growing economy. He has indicated that there is no possibility of increasing the repo rate for now.

The interest rate at which RBI lends to public and private banks is called the repo rate. If the RBI reduces the repo rate, banks also reduce the interest rate. Therefore, since the RBI does not reduce the repo rate, there is no possibility of reducing the interest rate of the common people on ordinary home or car loans for the time being.

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In today’s meeting, the RBI decided that those who have been victims of fraud in digital transactions will be offered compensation of up to Rs 25,000. In addition, they will soon issue guidelines on the use of agents to recover loans and recover loans if they are misled by lenders.

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The RBI said that the inflation rate in the country may be 4 percent in the March-May quarter. Earlier, it was estimated that it could be 3.9 percent. The RBI also believes that the inflation rate in the next quarter may be 4.2 percent. Retail inflation is expected to be 2.1 percent in the current fiscal year, and 3.2 percent in the current quarter.

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Avijit

A digital media professional with 4 years of experience, skilled in online content creation, media and information work, his goal is to regularly bring updates on government projects, scholarships and jobs to his readers.

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Avijitdas@timesbull.com Author at TimesBull TimesBull
A digital media professional with 4 years of experience, skilled in online content creation, media and information work, his goal is to regularly bring updates on government projects, scholarships and jobs to his readers.
Avijit - Author at TimesBull
About the Author

Avijit

Avijit - Author at TimesBull

A digital media professional with 4 years of experience, skilled in online content creation, media and information work, his goal is to regularly bring updates on government projects, scholarships and jobs to his readers.

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