New Delhi, August 6 (H.S.): The Reserve Bank of India (RBI) announced the key policy rates on Wednesday. After a three-day meeting of the Monetary Policy Committee (MPC), RBI Governor Sanjay Malhotra stated in Mumbai today that there has been no change in the repo rate this time. In the last three consecutive meetings, the central bank had announced a reduction in the repo rate, which currently stands at 5.50 percent.
Earlier, the central bank had reduced the repo rate by 50 basis points in June's monetary policy and by 25 basis points in April's policy.
The absence of a decrease in the repo rate has disappointed current home loan customers as well as those waiting for a reduction in the repo rate to purchase homes and cars.
The repo rate is the interest rate at which the RBI lends to all banks in the country, and fluctuations in this rate directly impact loan customers.
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Hindusthan Samachar / Jun Sarkar
