The Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) opted to maintain the policy rate, the repo rate, at 6.5% on Friday, marking the eighth consecutive meeting without a change. This decision implies that interest rates will remain steady, delaying prospects for cheaper loans and lower EMIs.
RBI Governor Shaktikanta Das announced the decision, stating, "GDP growth that we are now projecting for the current financial year 2024-25 is 7.2% with Q1 at 7.3%, Q2 at 7.2%, Q3 at 7.3%, and Q4 at 7.2%. The risks are evenly balanced."
