Repo Rate No Change: MPC keeps repo rate unchanged for 8th consecutive time, RBI Governor announces

Repo Rate No Change: After the MPC meeting of the Reserve Bank of India, it has been announced that there will be no change in the repo rate. This is the eighth consecutive time that the repo rate has been kept unchanged at 6.50 percent. RBI Governor Shaktikanta Das has announced this after the meeting which started in Mumbai on Wednesday ended on Friday.

Actually, EMI of banks is linked to Repo Rate. In such a situation, since there is no change in the repo rate, it has been decided that there will be no change in the EMI of bank loan at present. RCBI last increased the repo rate to 6.5 percent in February 2023. After which no change has been made in the repo rate. According to RBI Governor Shaktikanta Das, 4 out of six MPC members were not in favor of any change in the repo rate. This is the second MPC meeting of the new financial year and currently the repo rate is stable at 6.50 percent.

RBI Governor said on Friday that after the discussion in the MPC meeting in May, along with maintaining the repo rate at 6.50%, the reverse repo rate will be kept at 3.35%, the standing deposit facility rate will be kept at 6.50%. Deposit Facility Rate has been kept at 6.25%, Marginal Standing Facility Rate at 6.75% and Bank Rate at 6.75%.