Mumbai The announcement of the monetary policy of the Reserve Bank of India (RBI) for the next two months is very important. This decision is very important especially for the borrowers. RBI’s decision on repo rate, reverse repo rate and CRR in monetary policy only shows whether the EMI of the loan you have taken will increase, decrease or remain constant. You can know every update about this here.
Repo rate has been kept unchanged at 6.5%: RBI Governor Shaktikanta Das pic.twitter.com/Wh94c8OVBz
— ANI_HindiNews (@AHindinews) June 8, 2023
RBI retained the repo rate at 6.50 percent. Your loan EMI will remain the same as before.
Inflation has been brought under control: RBI Governor
Indian economy is very strong despite the changes happening around the world: Shaktikanta Das
Reserve Bank Governor Shaktikanta Das announced the monetary policy.
For the monetary policy, the meeting of RBI functionaries was going on for three days.
Earlier on 6 April 2023, RBI had announced its monetary policy.
In the last monetary policy announcement, the RBI had kept the repo rate at 6.50 per cent.
Earlier on February 8, 2023, the repo rate was increased by 25 basis points.
In the year 2022, RBI had increased the repo rate 5 times.
In May 2022, RBI had increased the repo rate by 0.40 percent, 0.50 percent in June 2022, 0.50 percent in August 2022, 0.50 percent in September, 0.35 percent in December 2022. This brought down the rate of inflation below 7 percent.
Talking about the rate of inflation, it was more than the target of 6 percent continuously for three quarters from January 2022. There was some softening in this from October 2022.