Reserve Bank kept the repo rate at 6.5 percent for the sixth time

An important announcement has been made by the Reserve Bank of India regarding the repo rate. Bank Governor Shaktikanta Das said that the apex bank has again kept the repo rate unchanged. This is the sixth time the bank has kept the rates unchanged. As a result, the Standing Deposit Facility Rate remains at 6.25% and the Marginal Standing Facility Rate and Bank Rate remain at 6.75%. The meeting started on April 3. The six-member Monetary Policy Committee (MPC) meeting includes bank governors Shaktikanta Das, Rajiv Ranjan, Michael Debabrata Patra along with Shashank Bhide, Ashima Goyal and Jayant R Verma as external members. This policy was announced on the last day of the meeting of the Monetary Policy Committee (MPC) as part of the bi-monthly review.

The repo rate was changed in February 2023

The Reserve Bank last changed the rates in February 2023. After this the bank increased the interest rates from 0.25% to 6.5%. Earlier in the year 2022, the Reserve Bank had increased the repo rate by 2.50 percent six times. However, this time the decision of the bank has brought great relief to the common people. There will be no increase in their loan EMI.