No change in Repo Rate for the Eleventh Time – RBI Monetary Policy
No change in Repo Rate for the Eleventh Time – RBI Monetary Policy Recently, the Central Bank - Reserve Bank of India were released it's MPC (Monetary Policy Committee) insights related on Bank Interest rate and economy data. It was the first meet for the Current Financial year 2022-23. The Reserve Bank of India(RBI) has said that there will be no change in the REPO and Reverse REPO rate. Generally, the REPO rate is the interest rate charged by the Central bank on loans to banks in the Country, where the Central bank borrows a loan with a particular interest rate from banks is called as Reverse REPO rate. According to the RBI, the REPO rate will remain unchanged at 4 Percent and Reverse REPO at 3.35 Percent. It is noteworthy that the Bank Repo rates have not changed much since the year 2020, given the recession caused by the Covid-19 Epidemic. For the Eleventh time, by this MPC meet - There is no change in the REPO interest rate. However the bank rates may be hiked in...