RBI Credit Policy Today: Whether you will get relief in home loan EMI or not, it will be decided today. Today Reserve Bank Governor Shaktikanta Das will present the Credit Policy. Prior to this, the Reserve Bank has not made any change in the interest rates for the first 5 times.
Mumbai: RBI Credit Policy Today: Whether you will get relief in home loan EMI or not, it will be decided today. Today Reserve Bank Governor Shaktikanta Das will present the Credit Policy. Prior to this, the Reserve Bank has not made any change in the interest rates for the first 5 times. The meeting of the Monetary Policy Committee on interest rates started on June 2.
RBI’s credit policy today
What the Monetary Policy Committee will decide on interest rates today, most experts have the same guess. Experts say that in view of rising inflation and the second wave of Corona, the Reserve Bank will keep the benchmark interest rates at the current level. Earlier in the MPC meeting held in April, the Reserve Bank did not make any changes in the interest rates. Repo rate was kept constant at 4 percent, reverse repo rate at 3.35 percent.
Expert opinion before policy
ICRA’s Chief Economist Aditi Nair says that the economic outlook is uncertain in view of the current pandemic, we expect the monetary policy to remain positive for a large part of 2021, unless there is an increase in vaccine coverage. We estimate that the estimated retail inflation rate will be around 5.2% in the financial year 2021-22, which was 6.2% in the financial year 2020-21.
Moneyboxx Finance Finance Controller Viral Sheth says that in the monetary policy, we estimate that the policy rates will remain the same, there will be no change in them. He says that it is necessary for the RBI to increase the credit flow in the rural economy, create a special window for this and small NBFCs will help a lot in this.
Indian Bank Managing Director and CEO Padmaja Chunduru says that the MPC is keeping a close watch on inflation. As it is seen that the economy is not open yet and there is still uncertainty regarding vaccination. So I think interest rates will remain where they are.
Niranjan Hiranandani, National President of NAREDCO, also says that the Reserve Bank will maintain its accommodative stance. He says that the second wave of Corona has badly affected the economy, now it is necessary to increase the liquidity in the system, especially for stressed industries.
Andromeda and Apnapaisa CEO V Swaminathan says that inflation is a major concern for the upcoming monetary policy. Petrol prices are Rs 100 per liter, which is directly affecting the common man. I hope that the Reserve Bank will make some announcements for the economy which is suffering from Corona.
Rates will not change for the sixth time in a row!
If even today the Reserve Bank does not make any changes in the interest rates, then this will be the sixth time in a row that the RBI has kept the interest rates the same. The Reserve Bank had changed the interest rates on 22 May last year, when it had made a historic cut in interest rates. RBI has cut the repo rate by 115 basis points i.e. 1.12 percent since March 2020.
