RBI financial coverage: Repo charge to stay unchanged at 6.5%, says Shaktikanta Das
&w=1200&resize=1200,0&ssl=1 "RBI financial coverage: Repo charge to stay unchanged at 6.5%, says Shaktikanta Das")
RBI Governor Shaktikanta Das has introduced that the Financial Coverage Committee (MPC) has determined to maintain the repo charge, the rate of interest at which RBI lends to banks, unchanged at 6.5%
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Following the Financial Coverage Committee’s (MPC) assembly, Reserve Financial institution of India Governor Shaktikanta Das introduced that the repo charge would stay unchanged at 6.5 per cent.
The repo charge has remained 6.5 per cent since February 2023.
In his capability because the RBI Governor, Das heads the six-member MPC. Three members of MPC are from the RBI and three are nominated by the Union authorities.
Repo charge is the rate of interest at which the RBI lends cash to banks and the reverse repo charge is the rate of interest at which the RBI borrows from banks. Mixed with different instruments equivalent to money reserve ratio (CRR) and statutory liquidity ratio (SLR), the MPC seeks to control the circulation of liquidity within the economic system.
The MPC is remitted with preserving the inflation within the vary of 2-6 per cent vary.
