RBI Monetary Policy: Will the loan EMI Decrease or will the burden Increase…
RBI Monetary Policy outcome regarding repo rate: The outcome of the RBI MPC meeting that began on Wednesday will be announced soon, said Reserve Bank Governor Shaktikanta Das…
Once the results of the Reserve Bank of India MPC meeting are out, you will immediately know whether your loan EMI will reduce or the burden will increase.
There was a change in repo rate in February 2023
Reports suggest that once again, experts are predicting that there will be no change in the policy rates (repo rate) this time. This means that they do not expect any change in rates in the near future. This is the second meeting of the Monetary Policy Committee in the new financial year, in which the repo rate remained stable at 6.50 percent. Since February 2023, the Reserve Bank has not changed the rate, keeping it steady at 6.50 per cent after a quarter-point hike.
RBI Monetary Policy: Interest rates remained unchanged for the 8th consecutive time, repo rate remains at 6.5%
RBI has retained the Standing Deposit Facility (SDF) rate at 6.25% and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.75%.
RBI Monetary Policy: The Reserve Bank has not changed the interest rates for the 8th consecutive time. Reserve Bank Governor Shaktikanta Das has maintained the repo rate at 6.5%. This means that you have not got any relief in the EMI of your home loan, car loan and all other types of loans.
Reserve Bank Governor Shaktikanta Das said that in the monetary policy meeting held during June 5, 6 and 7, 4 out of 6 members of the committee have agreed not to make any change in the policy rate.
GDP growth forecast raised
Reserve Bank Governor Shaktikanta Das said that India’s real GDP growth will be 8.2% in FY24 as per the provisional estimates of the NSO. Domestic economic activity remained resilient during FY25. PMI in the manufacturing sector remains strong, PMI services remained robust at 60.2 in May. Private consumption is improving with a steady increase in spending in urban areas.
Shaktikanta Das said that the GDP growth estimate for the first quarter of FY 2025 is 7.3%. While it is 7.2% in the second quarter, 7.3% in the third quarter and 7.2% in the fourth quarter. While the GDP estimate for the whole year is 7.2%. The governor said that we have increased the GDP growth estimate from 7% last time to 7.2%.
Bulk deposit limit is Rs 3 crore
Shaktikanta Das said that it has been proposed to change the definition of ‘bulk deposit’. The limit of bulk deposit will be increased to Rs 3 crore or more. That is, any deposit of Rs 3 crore or more will be considered a bulk deposit. The new bulk deposit rules will apply to banks and small finance banks.
Inflation under control, CPI forecast retained at 4.5%
Inflation under control, CPI forecast remains at 4.5% On the inflation front, Shaktikanta Das said that CPI inflation has softened. But food inflation has increased. Inflation rate of services is at a historic low and inflation of goods is also within limits. There is a need to keep a close watch on the arrival of vegetables and pulses in Rabi season.
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