RBI keeps repo rate unchanged at 6.50%

The central bank informed that the repo rate is being maintained at 6.50 percent as before. 

New Delhi: For now, relief is for common people. In another blow, the EMIs of home and car loans taken from banks are not getting expensive. Because the repo rate of the Reserve Bank of India remains unchanged in the first quarter of the new financial year. The Reserve Bank's Monetary Policy Committee meeting on Thursday decided to keep the repo rate unchanged. As a result, the borrowers of various banks of the country will get some relief.

At the end of the monetary policy decision committee meeting on Thursday, the central bank informed that the repo rate is being maintained at 6.50 percent as before. RBI's move is certainly somewhat unexpected. Because economic experts were of the opinion that, like the last few meetings, the repo rate will be increased by at least 25 basis points. But keeping in mind the banks and borrowers, the RBI has decided to keep the repo rate unchanged for the time being. However, RBI Governor Shaktikanta Das has indicated that this rate may increase again in the coming days.

Financial unrest has been on the rise around the world for more than a year since Russia's military operation against Ukraine. In this situation, the apex bank has increased the repo rate at a huge in the last few rounds to deal with the inflation. Earlier, the repo rate increased by 25 basis points (0.25 percent) in the month of February. Before that, the repo rate was increased by 40 basis points in May last year. It again increased by 50 basis points in June.

The repo rate has increased by several steps in the last financial year. Due to which there is pressure on the pocket of common people. From businessmen to borrowers to common people, everyone has faced problems. The financial pressure was increasing on the common people while reining in the price rise. Interest rates on home and car loans were also rising steadily. The Reserve Bank gave some pause to that pain. Because there is no risk of EMI increase for now.