RBI Monetary Policy Announcement (MPC): What did Governor Shaktikanta Das say due to Covid, repo rate will remain 4 percent

 Recently, RBI Governor Shaktikanta Das said that due to the Covid-19 epidemic, many challenges have come in front of India in the global markets, in which the RBI has tried to play an important role.

He said that now we are in a better position than before to deal with Corona. Due to natural calamities in some parts of the country, the revenue coming from the states has also been affected a lot. The Governor also said that there is still a great need to accelerate private investment in the country.

The results of the Reserve Bank's monetary policy review have been released and there has been no change in the policy rates. The repo rate has been kept at 4 percent and the reverse repo rate at 3.35 percent.

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 0.25% growth forecast

Chief Economist Madan Sabnavis has forecast an increase in the reverse repo rate by 0.25 per cent and according to him, "Given the assurance given in the Budget and the possibility of inflation on account of crude oil prices, we expect that The Reserve Bank may start the process of normalization by increasing the reverse repo rate by 25 basis points. .

 What are Repo Rate and Reverse Repo Rate

The rate at which RBI gives loans to commercial banks and other banks is called repo rate. Reduction in the repo rate simply means that all the loans from the bank will become cheaper. This also increases the interest rate on the deposit. The rate at which banks get interest on the money deposited in RBI on their behalf is called reverse repo rate. The extra cash that banks have is deposited with the Reserve Bank. Banks also get interest on this. This process is called repo rate and reverse repo rate.

What RBI said on GDP

In YEAR 2022, the economic growth rate can be at 9.5 percent. This means that the Indian economy is in a better position and the country is also in a better position to fight Corona. Looking at the situation at this time, it can be said that India is now ready to face any challenge.

RBI Governor Das said that due to the Covid-19 epidemic, many challenges had come in front of India, due to this, many difficulties had come in front of India, but today India is in a good position while facing difficulties. India is also facing many challenges, in which RBI has tried to play an important role.