New Delhi. The month of June is important in many ways. The results of the Lok Sabha elections will be announced today, i.e. on June 4. The monetary review meeting of the Reserve Bank of India will begin from tomorrow. Many big decisions including the Repo Rate will be taken in this meeting.

The general public keeps an eye on the reduction in the repo rate. Actually, if the repo rate is reduced then the EMI of the loan decreases.

Regarding the RBI MPC meeting, experts say that there is no possibility of RBI cutting the repo rate amid rising inflation in the country. The central bank had also kept the repo rate stable in the last MPC meeting.

The central bank had changed the repo rate from February 2023. In February 2023, the repo rate was increased from 6.25 percent to 6.50 percent.

When will the decisions taken in the NPC meeting be announced

The MPC meeting of the Reserve Bank of India is a three-day meeting. This meeting is chaired by RBI Governor Shaktikanta Das. This meeting will start on June 5, 2024 and the decisions taken in this meeting will be announced on June 7, 2024 (Friday).

If there is no change in the repo rate this time too, then this will be the 8th consecutive time when a decision will be taken to keep the repo rate unchanged.

What is Repo Rate? (What is Repo Rate)

The central bank gives loans to the rest of the banks in the country for operations. The rate at which this loan is given is called repo rate. Repo rate is directly connected to loans. Actually, the banks give loans to the general public at the same rate at which the central government gives loans to the banks.

If RBI decides to cut the repo rate, then the rates of home loan, vehicle loan and other loans also decrease.