RBI will give its decision regarding interest rates, will you get the gift of cheap loan or will the rates remain the same?

RBI Monetary Policy: The Reserve Bank of India (RBI) will announce its monetary policy today at 10 am. Everyone’s eyes are on what stand RBI Governor Shaktikanta Das and other members of the Monetary Policy Committee take in this. The Reserve Bank has not made any changes in the policy rates like repo rate and for banks continuously in the last 9 credit policies, which means that from February 2023 onwards RBI has kept the rates in the credit policy at 6.50 percent. The meeting of the Monetary Policy Committee (MPC) of RBI has started from October 7 and today the decisions of this meeting are going to be announced by RBI Governor Shaktikanta Das.

What could be the decision of RBI-opinion of economists and economic experts

This time the opinion of economists and economic experts from various business channels and economic institutions is divided. Some say that RBI may cut interest rates by 0.25-0.50 percent this time. According to some experts, this time also the Reserve Bank will keep the interest rates stable for the 10th consecutive time without making any cut.

What will be the impact of RBI’s decision on the general public and you?

If RBI does not make any change in the interest rates, then as a result of this there will be no reason for banks not to make cheap loans and the current situation of loan rates in the country can remain intact. Since after RBI makes the interest rates cheaper, the banks are also under pressure to reduce their loan rates, after which the banks can make their home loans, car loans etc. cheaper, then you can get a good gift in this festive season. .

What are the global conditions that will impact RBI policy?

The International Monetary Fund (IMF) has estimated global growth at 3.2 percent for the financial year 2024. However, the impact of geo-political tension and global economic instability can be seen on this global growth figure. To fight this, banks around the world may have to take strict measures and this has started happening.

If we look at India’s GDP growth, it has been 7.2 percent in the first quarter of the financial year 2025, which is the highest among the developing economies and has left the global growth behind.

The US Federal Reserve has reduced interest rates by 0.50 percent in the last Federal Reserve policy. After this, changes in policy rates are being seen in banks all over the world.

The European Central Bank (ECB) has reduced interest rates by 0.25 percent.

China’s central banks have taken several measures to improve its economy, which are likely to have an impact on its growth.

Why is today’s credit policy important for Reserve Bank of India (RBI)

This policy is very important for India’s central bank RBI because at present global instability is at its peak – it can be said. Due to the Iran-Israel war, there is a possibility of deterioration in the food chain supply, which is an important means of trade between many countries. In view of all these situations, even though the inflation rate in India is currently around the target set by RBI, the Reserve Bank can take some important decisions while exercising caution.

The Reserve Bank has the opportunity to decide to cut the repo rate amid global instability or maintain its stance of not making any change in the repo rate as is being done in the last 9 credit policies.

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