RBI first Monetary Policy after Budget: No respite to home and auto loan borrowers; RBI keeps interest unchanged at 4%
Zee News
The central bank announcing the outcome of its bi-monthly Monetary Policy rates on February 10 said that it has decided to keep the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent.
New Delhi: Home and auto loan borrowers will have to continue with their current EMIs that are unlikely to come down in the near term as the Reserve Bank of India on Thursday kept the key policy rates unchanged in its bi-monthly Monetary Policy review. This policy review comes just nine days after the 2022 budget announcements. This is also the last policy review of the financial year 2021-22.
The central bank announcing the outcome of its bi-monthly Monetary Policy rates on February 10 said that it has decided to keep the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent.
Repo is the rate at which RBI lends funds to commercial banks when needed. It is a tool that the central bank uses to control inflation. The reverse repo rate is the rate at which the RBI borrows from banks.
