6 Feb 2020

RBI keeps the Repo Rate unchanged

Reserve Bank of India has not cut the repo rate this time. This is the second consecutive monetary review meeting when the RBI has kept the repo rate stable. Now the loan interest rate and your EMI are less likely to go down. Earlier, in December also the central bank did not make any change in the repo rate. At the same time, in the initial five monetary review meeting of 2019, the repo rate was cut 5 times in a row.The reverse repo rate is the rate at which banks get interest on the money deposited in the RBI.

Currently the repo rate is stable at 5.15 percent. Apart from this, the reverse repo rate also remains at 4.90 per cent. The Reserve Bank has maintained the cash reserve ratio i.e. CRR at 4 per cent and SLR at 18.5 per cent, while RBI Bank estimates that GDP growth will be 6 per cent in FY 2020-21.

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