RBI Once Again Pauses Repo Rate At 6.5%!!! Happy News For Loanee: The Reserve Bank of India (RBI) released the bi-monthly monetary policy report for June month on Thursday, the report once again paused the Repo rate and planned to keep the benchmark rate at 6.5% for the next two months. This was announced by RBI governor Mr. Shaktikanta Das.
He also announced that the committee has decided to keep the repo rate unchanged unanimously, last April also the monetary policy committee has decided to keep the same repo rate. The standing Deposit Facility (SDF) rate also remains at 6.25% and the marginal standing facility and bank rates hold at 6.75% said Das.
According to the report, the inflation rate also drops to 5.1% for this current financial year when compared to the previous year’s report at 5.2%. The Pausing of the repo rate will be helpful for the loanee because the repo rate will make an impact on EMI interest rates and upon this announcement, the EMI burden will not hike for the borrowers.