RBI Monetary Policy: MPC holds repo rate at 4%, GDP growth pegged at 10.5%
The RBI has kept the repo rate stable. It remains intact at 4% as before.
New Delhi: The meeting of the Reserve Bank of India (RBI News) Monetary Policy Committee (RBI MPC Meeting) ended today i.e. on 7 April 2021. The final announcement has been made by RBI Governor Shaktikanta Das today on this meeting that started from April 5. RBI has decided not to make any changes in monetary policy policy.
RBI MPC Meeting:
The RBI has kept the repo rate stable. It remains intact at 4% as before. Presently RBI's repo rate is 4% while reverse repo rate is 3.5%. Please tell that this was the first MPC meeting of the new financial year (FY 2021-22). The RBI governor will also hold a press conference on this at 12 noon.
What Shakti Kant Das said?
The RBI governor said that the repo rate will remain at 4% and the reverse repo rate at 3.35%. Das has said that till the growth is not sustainable, the policy rate will remain intact.
That is, the EMI of your home and auto loan will remain the same. You will have to wait for cheaper EMI now. With this, the RBI governor has estimated 10.5% GDP for the year 2021-22. There were already indications from the market experts.
Explain that on the basis of monetary policy, the supply of money in the market is controlled. Monetary policy determines the rate at which the Reserve Bank will lend to banks and at what rate they will withdraw money from those banks. The monetary policy is decided by the Reserve Bank of India based on the recommendations of its Central Board. This board consists of eminent economists, industrialists and policy makers.
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