RBI Maintains Repo Rate at 6.5% for the 10th Consecutive Time: No Increase in Loan Costs or EMIs

New Delhi: In a significant move, the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5% for the tenth consecutive time. This decision aims to provide stability in the financial market and prevent any increase in loan costs for consumers.
By maintaining the repo rate at 6.5%, the RBI has effectively ensured that loans will not become more expensive for borrowers. This means that individuals and businesses can continue to access credit without facing higher interest rates, promoting economic growth and consumer spending.

No Increase in EMIs
The decision to hold the repo rate steady will also mean that Equated Monthly Installments (EMIs) for existing loans are unlikely to rise. This will provide relief to borrowers, especially those with home loans and personal loans, as they can plan their finances without worrying about unexpected increases in their monthly payments.

Focus on Economic Growth
The RBI’s decision reflects its commitment to supporting economic growth while keeping inflation in check. By not altering the interest rates, the central bank aims to strike a balance between fostering growth and managing price stability, thereby ensuring a conducive environment for investment and consumption.