The Reserve Bank of India (RBI) has announced that there is no change in the bank interest rate.
The Central Reserve Bank decides on a 2-month interest rate. The Finance Policy Committee was constituted under the chairmanship of Shaktikant Das, Governor of Atapitia. Members of the Revenue Policy Committee discussed the interest rate, international economic situation, inflation and the rupee.
After the meeting, the results of the bank’s monetary policy were released. Accordingly, the interest rate (repo) has been adjusted to 5.15 percent. The Reserve Bank of India (RBI) has said that they will take steps to boost growth even if interest rates are not changed. The country’s economic growth is expected to be a percent by 2021-27.
Beginning in February last year, interest rate reductions have continued throughout the past year to cut the economic downturn. Repo rate was also reduced at last year’s 5 financial policy meetings.