RBI Monetary Policy: Will EMI of your loan be reduced or burden on pocket

News India Live, Digital Desk: Today is very important for millions of loan holders and investors! Today is the last day of the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI), and in the afternoon RBI Governor Shaktikant Das is going to make a big announcement about the repo rate. Everyone’s eyes are on whether this time Repo rate There will be any change in, which can directly affect your pocket.

What is market estimate?
Most experts and market estimates that RBI once again There will be no change in repo rateThat is, it will be kept stable at 6.50%. If this happens, it will be the eighth consecutive time when the RBI will maintain the repo rate at the same level.

If the repo rate remains stable, what will be the effect on your pocket?

1. No change on loan EMI: If the repo rate remains stable, then there will be no change in the EMI of your car loan, home loan and personal loan. That is, you will neither have to pay more installments nor will you get any relief. The cost of loan will remain the same.

2. Interest Rates on FD and Saving Account: Interest rates on deposits i.e. FD and savings account will remain almost the same. This means that the return on your savings will also remain stable at the moment.

Why RBI will not change the repo rate?
RBI’s main focus at this time On controlling inflation. Retail inflation still remains above 4% target of RBI, although it has decreased slightly. Especially the inflation of food items is still a matter of great concern. Until inflation is completely under control, the expectation of repo rate cut is low. The RBI first wants to completely control inflation, only then will consider reducing rates.

What is the role of Monetary Policy Committee (MPC)?
The repo rate is decided by a six -member monetary policy committee (MPC) headed by RBI Governor Shaktikanta Das. The meeting of this committee started on 4 June, in which the country’s economic condition, inflation figures and global signals were discussed in detail.

What to expect next?
Experts believe that the repo rate may be likely to be cut by the end of this year or at the beginning of next year, provided inflation and the pace of economic growth remain stable. At the moment, stability is expected in today’s decision.

So now just waiting for the announcement of RBI Governor Shaktikanta Das, which will decide an important direction for your pocket and country’s economy!

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