New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das has given information regarding the decision taken in the meeting on monetary policy on Thursday. RBI has kept the key policy rate repo at 4 per cent. This is the 10th time in a row that it has been decided to keep the policy rate at a record low. That is, customers will have to wait longer for relief on loan EMI. Actually, after the reduction in the repo rate, there is pressure on the banks to reduce the interest rate. If the bank lowers the interest rate, then the EMI also goes down.

RBI Governor said that the repo rate will remain 4 percent without any amendment. The MSF rate and bank rate will remain 4.25 percent without any change. The reverse repo rate will also remain at 3.35 percent without any revision. Regarding GDP, the RBI governor said that the real GDP growth for 2022-23 is estimated to be 7.8 percent. He said there was some loss of economic momentum due to the third pandemic wave. Real GDP growth of 9.2 percent in FY22 will take the economy above pre-pandemic levels.

Expressing concern over inflation, he said that inflation has peaked in the current quarter and is likely to moderate in the second half of the coming financial year. CPI inflation for 2022-23 is projected to be 4.5 per cent. Along with this, Shaktikanta Das called on banks to raise capital, improve risk management.

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