RBI Monetary Policy: The common people expecting a reduction in EMI have got a shock. Due to rising inflation, RBI has not made any changes in the interest rates. The Reserve Bank of India (RBI) has announced that the repo rate will remain at 6.5 per cent for the time being. Also, RBI has announced that Artificial Intelligence will soon be used in UPI payments.
After this announcement of RBI, this is the third consecutive time when RBI has not made any change in the repo rate. Earlier, the repo rate was kept constant in the MPC meeting held in April and June.
After the MPC meeting, RBI Governor Shaktikanta Das said that all the members present in the meeting were in favour of keeping the rates steady. He said that amidst all the challenges in the global economy, India is moving forward strongly. He said that India’s economic position is strong and we are the engine of economic growth for the world.
Along with this, Shaktikanta Das has said that the position of the banks is strong and NPAs have come down. Also, the corporate balance sheets have strengthened. He said that India’s strong macroeconomic fundamentals continue to remain strong and the Indian economy is strong.
The RBI governor said that inflation is under control, but food inflation is a matter of concern. RBI Governor: The increase in the price of vegetables has affected inflation. An increase in the inflation rate is expected in July-August.
