No relief in EMI again, RBI Governor announced

New Delhi: In its February monetary policy, the Central Bank had kept the repo rate stable at 6.50 percent for the sixth consecutive time. Today the first Reserve Bank of India monetary policy meeting for the financial year 2024-25 is being held. Many big decisions have been taken in this. It was expected that RBI might surprise with its decision just before the elections, but RBI has not made any change in the repo rate for the seventh time. This means that you will not get relief in EMI right now. RBI Governor Shaktikanta Das said that in the first RBI monetary policy meeting of financial year 2025, it has been decided to keep the repo rate unchanged. The central bank has kept the repo rate stable at 6.50 percent in the 7th consecutive monetary policy (RBI Monetary Policy). The Governor said that we have decided not to make any change in the repo rate right now. This means that you will not get relief in the current EMI. RBI Governor Shaktikanta Das said that India’s economy will grow at a pace of 7 percent in the financial year 2024-25. The real growth of GDP is estimated to be 7.1 percent in the first quarter of financial year 2025, 6.9 percent in the second quarter and 7 percent in the third-fourth quarter. On monetary policy decisions, RBI Governor Shaktikanta Das said that the Standing Deposit Facility Rate remains at 6.25% and the Marginal Standing Facility Rate and Bank Rate remain at 6.75%.