RBI MPC Meeting: Repo Rate Remains Unchanged For 9th Consecutive Time, Know Important Highlights

RBI Policy Meeting: Governor Shaktikanta Das addressed the third bi-monthly policy meeting for FY25, which was held from August 6 to August 8, 2024, as part of the RBI’s Monetary Policy Meeting (MPC). In this video, we will discuss the top 5 highlights of this MPC meeting to help you with investment, business, or basic knowledge about India’s economy. 

RBI MPC Policy Meeting Highlights

The RBI has not made any kind of change in the repo rate for the 9th consecutive time, keeping it at 6.5%. This means, the EMI on loans like home loan, card loan, etc. will neither increase nor decrease. Talking about inflation, RBI Governor told that retail inflation was at 4.8% from April to May, which increased to 5.1% in June. He also added that the increase in inflation and stability in prices will keep the growth strong. Apart from this, the tax payment limit from UPI was increased from 1 lakh to 5 lakh, whereas the time of cheque clearance has been reduced from 2 days to a few hours. Watch the video to learn more.