Fixed Deposits (FDs) have consistently been a go-to investment for individuals who prioritise stability and low risk, as opposed to market-linked investments like mutual funds and stocks.
The Reserve Bank of India Governor as ex-officio chairman of the Monetary Policy Committee commenced the three-day meeting on October 7 which concluded today. It was anticipated that the repo rate would be reduced this time considering the rate cuts by the US Feds.
The Reserve Bank of India (RBI) has kept the benchmark repo rate unchanged at 6.5% for the 10th consecutive time, maintaining its focus on inflation control while balancing economic growth.
The 3-day Monetary Policy Committee (MPC) meeting will conclude on October 9. The outcome of the meeting is eagerly awaited as the RBI has kept the repo rate steady for the last nine consecutive months.
Despite inflation falling below the apex bank's target of 4 per cent for the past two months, the policy rates will not change in the MPC meeting commencing on October 7, as per BoB report.
RBI Governor Shaktikanta Das made several significant announcements today. Let's understand how these changes might impact the general public.
This marks the ninth consecutive time the MPC has held the repo rate at 6.5%, maintaining its stance of 'withdrawal of accommodation' to steer inflation towards the desired target. The decision received majority support, with four out of six members in favour.
RBI Governor Shaktikanta Das revealed the next set of monetary policies on Friday morning. Earlier, experts anticipated that the RBI will maintain the benchmark interest rate at 6.5%, unchanged since February 2023, due to inflation concerns.
The Reserve Bank of India's Monetary Policy Committee (MPC) announced the first policy outcome of the financial year 2025 on April 05. On monetary policy decisions, RBI Governor Shaktikanta Das said, "The Reserve Bank decided to keep the Policy Repo Rate unchanged at 6.5%".
The reversal of the funds is set for February 23 between 10:30 AM and 11:00 AM.
The RBI announced its decision to keep the repo rate unchanged for the sixth consecutive time at 6.50 per cent.
The monetary policy committe led by Shaktikanta Das has kept the repo rates unchanged at 6.50 per cent.
The RBI has kept the repo rate steady at 6.50 per cent over the past year, last raising it in February 2023 from 6.25 per cent.
Retail inflation in India though, is in RBI's 2-6 per cent comfort level but is above the ideal 4 per cent scenario.
The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.
In response to rising inflation, the central bank has increased its repo rate by 250 basis points since January 2022, impacting affordability and increasing EMI burdens by 14.4% since then.
The Central Bank decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation.
India TV Poll Results: In order to know what the public wants, India TV took public opinion on this issue through a poll.
The Governor also informed that overall inflation is above the target and the current policy rate still remains accommodative.
RBI increased the Repo Rate by 25 basis points on February 8, prompting many banks to raise interest rates on personal, car, and home loans.
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