RBI Monetary Policy Outcome No Change In Repo Rate And Reverse Repo Rate

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RBI Monetary Policy: The Reserve Bank of India has released the results of its monetary policy review today and has not made any change in policy rates. In this way, now the repo rate has been kept at 4 percent and the reverse repo rate at 3.35 percent. RBI Governor Shaktikanta Das announced this.

what shaktikanta das said
RBI Governor Shaktikanta Das said that due to the Kovid-19 epidemic in the global markets, there have been many challenges and India has also been facing many challenges, in which RBI has tried to play an important role. Now we are in a better position to deal with Corona.

When was the last policy rate changed?
The Reserve Bank of India last changed the policy rates on 22 May 2020 and since then there have been eight monetary policy reviews and RBI has not changed the interest rates. In the last MPC meeting of this year, there is pressure to take steps to overcome the many challenges before the RBI. While the need to maintain liquidity in the economy will have to be taken care of, decisions have to be taken keeping the fluctuations in inflation rates in the center.

What are repo rate and reverse repo rate
The rate at which RBI gives loans to commercial banks and other banks is called Repo Rate. Lower repo rate means that all types of loans from the bank will become cheaper. This also increases the interest rate on your deposit. The rate at which banks get interest on the money deposited in RBI on their behalf is called reverse repo rate. The extra cash that banks have is deposited with the Reserve Bank. Banks also get interest on this.

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