This time also in the monetary policy review meeting of the Reserve Bank of India, the repo rate has been maintained at 6.50 percent.
RBI Governor Shaktikanta Das informed about the decisions taken in the monetary policy review meeting.
This is the fourth consecutive time that no change has been made in the repo rate. The Monetary Policy Committee is a committee constituted by the Central Government and headed by the Governor of RBI.
Repo rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks or financial institutions in India against government securities. The current repo rate in 2023 is 6.50%.
If RBI reduces the repo rate, it increases the supply of money in the market, which can help the economy grow.
