look news india
RBI on repo rate: A major decision was taken in the 51st MPC meeting of the Reserve Bank of India (RBI MPC Meeting Results). Announcing the two-day Monetary Policy Committee meeting, RBI Governor Shaktikanta Das said that this time also no change has been made in the policy rate (repo rate). That means the EMI of your loan will remain the same. The Reserve Bank has decided to keep the policy rate unchanged at 6.5 percent. This is the 10th consecutive time that the Reserve Bank has not made any change in the repo rate.
5 out of 6 members agreed
Regarding the decisions taken in the MPC meeting that started on October 7, the RBI Governor said, this time three new members have joined the MPC. Keeping in mind global factors, five out of six members agreed to keep the interest rates unchanged. The policy stance has been neutralized by the housing retreat. Despite the geopolitical crisis at the global level, the country has been successful in controlling inflation. Economic development is taking place. But as a precaution, there will be no change in the existing interest rates.
What will be the impact on EMI?
There will be no significant change in the loan EMI due to RBI maintaining the repo rate at 6.5 percent. There will be no change in the interest rates of loans given on MCLR. Banks take loan from ABI on the basis of repo rate. Therefore, changes in this affect the loan available to the customers.