RBI gives relief to common man: EMI will not increase, repo rate remains at 6.5 percent for the seventh consecutive time

Mumbai (Uttam Hindu News): Citing the ongoing uptick in economic activities and keeping a close eye on inflation, the Reserve Bank of India has decided to keep the policy rate unchanged for the seventh consecutive time, which has disappointed the common people who were expecting a reduction in interest rates.

The rate hike cycle was stopped in April last year after six consecutive rate hikes by 250 basis points from May 2022 and it is still at this level. Announcing the first bi-monthly monetary policy of the current financial year, RBI Governor Shaktikanta Das on Friday said that the Monetary Policy Committee (MPC) has decided to keep the monetary policy unchanged. In view of this, all the major policy rates including the repo rate remain unchanged and it has been decided to withdraw the accommodative stance.

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