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RBI MPC Meeting: The two -day meeting of RBI’s Monetary Policy Committee started from June 4 will end today. After this, a big gift can be given on the car and home loan from the central bank. It is believed that the RBI can cut the repo rate by 25 to 50 basis points.
If this happens, people who are paying EMI on the loan can get great relief. Earlier, SBI had said in its report that it is possible to cut the RBI repo rate up to 50 basis points. However, some reports are said that there may be a cut of 25 basis points from the RBI and then in the next monetary policy meeting again, relief of 25 basis points can be given again.
Today RBI can give a big gift
A decision on this will be taken by RBI at 10 am today. In this, a decision will be taken from repo rate to GDP estimate and inflation. It is worth noting that earlier, the repo rate of 25 basis points was cut by the RBI twice in February and then in February, after which it is now at 6 percent.
If the repo rate is cut by RBI by 25 or 50 basis points, then it will come to 5.75 or 5.50 percent. That is, after this, the interest of the people who have taken the loan from the bank will also be deducted accordingly.
What is repo rate
Actually, the repo rate is that on which banks are given loans from RBI. In such a situation, if the RBI changes the repo rate, then it directly affects the bank loan. If the RBI increases the rape rate, the bank will increase interest on loan, which will make the car and home loan and EMI expensive on it, and when reduced, then people are given relief from the bank.
