RBI gave big relief, did not increase repo rate; steady at 6.5%

Mumbai (Best Hindu News): Keeping an eye on the target of keeping inflation in the target range, the Monetary Policy Committee of the Reserve Bank today decided to keep the growth forecast unchanged and not to make any change in the policy rates while raising the inflation forecast, thereby There will be no increase in the installments of common people’s home, car and other types of loans. The committee has decided to keep the repo rate unchanged at 6.5 percent.

This announcement has been made in the statement issued today after the third bi-monthly three-day meeting in the current financial year. Announcing this, Reserve Bank Governor Shaktikanta Das said that while referring to the global and domestic economy, there is no change in the policy rates at present, but the committee has backed away from the accommodative stance while keeping the policy rates unchanged. Have decided to withdraw.

After this decision of the committee, there will be no increase in the policy rates for the time being. Repo rate unchanged at 6.5 percent, Standard Deposit Facility Rate (SDFR) 6.25 percent, Marginal Standing Facility Rate (MSFR) 6.75 percent, Bank Rate 6.75 percent, Fixed Reserve Repo rate 3.35 percent, Cash Reserve Ratio 4.50 percent, Statutory Liquidity Ratio unchanged at 18 percent Is.

Das said the Indian economy and financial sector remained strong and robust amid the slowdown in global economic activity and have been able to contain inflation. He said that the growth forecast for the current financial year has been kept unchanged at 6.5 per cent. Based on this, it can be 8.1 percent in the first quarter of the current financial year, 6.5 percent in the second quarter, 6 percent in the third quarter and 5.7 percent in the fourth quarter. It may remain at 6.6 percent in the first quarter of the next financial year.

He said that the entire focus of the Reserve Bank is to bring inflation within the target range of 4 per cent. He said that the rise in the prices of tomatoes as well as the rise in the prices of cereals and pulses has led to inflation, but now there is every hope of a reduction in the prices of vegetables. He said that in view of this, the estimate of retail inflation has been increased from 5.1 percent to 5.4 percent in the current financial year. It is estimated to be 6.2 percent in the second quarter, 5.7 percent in the third quarter and 5.2 percent in the fourth quarter. It may remain at 5.2 percent in the first quarter of the next financial year.