The Reserve Bank of India has taken a key decision on Latest Policy: The MPC committee, headed by RBI Governor Shaktikanta Das, announced in its latest policy review that key Interest rates would remain unchanged. This will not have a direct impact on the general public.
The repo rate has remained stable at 4 percent with the latest decision by the Reserve Bank of India. Also, the reverse repo rate remains stable at 3.35 percent. It also set a GDP growth forecast of 10.5 percent for the 2021-22 financial year. Shaktikanta Das said Covid-19 was closely examined, the issue of an increase in cases.
Let us now see what kind of impact the RBI will have on the general public due to the decision of the rates. As Interest rates remain stable, those who hide money in banks get the same current Interest rates. It can be said that there is less Interest in FDs and savings accounts in existing banks.
Borrowers will now benefit from the RBI decision. Low-Interest loans will be available for some time to those who want to take a loan. This puts less burden on borrowers. The RBI decision on Latest Policy will benefit the borrowers.