The results of the Reserve Bank of India's Monetary Policy Committee meeting, which began on June 6, have been announced. Central Bank Governor Shaktikanta Das informed about the important decisions taken in this three-day meeting. This time too the policy rates have been kept constant. While the standing deposit facility Rate has been kept unchanged at 6.25% and the marginal standing facility rate has also been kept at 6.75%. Let us tell you that the Reserve Bank did not change the Repo Rate even in the MPC meeting held in the month of April. The RBI Governor said that the Indian economy is in a strong position. The foreign exchange reserves position is also in a good position.

Second meeting of this financial year

This is the second meeting of the Reserve Bank of India's Monetary Policy Committee in FY24. It started on June 6 in Mumbai. This time also it has been decided to keep the repo rate unchanged, so currently the repo rate will remain at 6.5 percent. Let us tell you that the central bank increased the repo rate one after the other to control inflation, which has reached its highest level since May 2022.

What did the RBI Governor say?

Announcing this, the RBI Governor said that the decision has been taken to keep the repo rate unchanged following a sharp rise in credit growth. Decline in inflation rates has also been an important aspect. However, the inflation rate was expected to be above 5 percent in the financial year 2023-24. Inflation may remain above target, RBI governor said. With this it was decided not to change any rate.

What is repo rate?

Actually the repo rate is the rate at which the RBI lends to the banks of the country. Then based on this rate, the bank offers different types of loans to its customers like home loan, vehicle loan, personal loan etc. For this reason, the change in repo rate directly affects your loan and EMI.