New Delhi: The results of the three-day meeting of the RBI Monetary Policy Committee (MCP) will be released at 10 am on Friday. RBI Governor Shaktikanta Das will give information about this by holding press talks. There is a possibility that once again a cut in interest rates is possible.
Earlier in the 24th meeting of MPC held in August, RBI did not make any change in the repo rate. It is currently four percent and the reverse repo rate has been kept constant at 3.35 percent. If the repo rate is reduced in the meeting then it will give relief to the customers in EMI. The MPC, headed by the Governor of RBI, has been given the task of keeping the annual inflation rate at 4 percent till 31 March 2021. It can go up to a maximum of six percent and a minimum of two percent.
RBI Governor Shaktikanta Das said in September that monetary policies could be changed as per the requirement and there could be scope for a cut in interest rates as well. Assocham Secretary General Deepak Sood had said that the RBI should continue to maintain interest rates. Bankers say that there is little scope to reduce the repo under inflationary pressure. At the same time, most experts believe that there is little scope to cut the repo rate.
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