look news india
Lok Sabha elections are over, if there is a loan running in your name then this news is for you. The decision on whether your loan installments will be increased or relaxed will be taken tomorrow on 7th June. The three-day meeting of the monetary policy committee of the Reserve Bank of India has started on the 5th. The decision will come on Friday. RBI Governor Shaktikanta Das will announce the decision on repo rate on 7th June. Currently the repo rate is 6.50 percent. Whereas there has been no change in the previous repo rate.
second meeting of the new financial year
This is the second MPC meeting of the new financial year. It is expected that amid strong economic growth and uncertain inflation scenario, RBI will maintain its strict monetary stance in the policy review on Friday. At this time, the election results have come in the country. A coalition government led by BJP is going to be formed in the country. In such a situation, the big question is whether home loan installments will be reduced before the coalition government is formed or not.
What is the current repo rate?
In a survey last May, 71 out of 72 economists expected the MPC to keep the repo rate unchanged at its June 5-7 meeting. It will remain unchanged at 6.50 per cent. Moreover, amid a booming economy, the central bank has raised the repo rate to a high of 6.5 per cent from February 2023 to avoid the MPC cutting interest rates.
Hope inflation will be under control
Inflation is expected to remain below five percent from October till the end of the financial year 2024-25. According to sources, India's economy has maintained its strong performance and will achieve an effective growth rate of 8.2 percent in 2023-24. Which was seven percent in the year 2022-23.