RBI Governor Shaktikanta Das to announce decisions of Monetary Policy Committee meeting

Sakshi Education

Reserve Bank of India’s Governor Shaktikanta Das will announce decisions of the Monetary Policy Committee meeting tomorrow at 10 am. The bi-Monthly review meeting of the Monetary Policy Committee began on Monday.
In the last year, RBI has increased Repo Rate by 2.5 per cent. Supply disruption due to the Russia-Ukraine War, Rate hikes by Fed Reserve and rising inflation were major reasons behind the rate hikes. It has resulted in higher monthly EMI on Home and other loans.
In the Ecowrap Report, State Bank of India’s Group Chief Economic Advisor Dr. Soumya Kanti Ghosh has said that our analysis indicates that of around 55 lakh home loan accounts linked to External Benchmark based Lending Rate, approximately 47 lakh customers with loans amounting to approx. eight lakh crore rupees witnessed an increase in tenure, EMI or both in their existing home loans.
The April monetary policy statement of RBI assumes special importance on whether we can signal an exit from coordinated monetary policy increases as otherwise, it could become a self-fulfilling prophecy of central banks of emerging markets doing a continuous catch-up with the Fed.

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