RBI MPC Meeting: Before the beginning of the financial year 2024-25, you should know when the RBI Monetary Policy (RBI MPC Meeting) is going to be held this year. Information regarding this has been given by RBI.
RBI MPC Meeting Schedule 2024: Interest rates are reviewed by the Reserve Bank every 2 months. Before the start of the financial year 2024-25, you should know when the RBI Monetary Policy (RBI MPC Meeting) is going to be held this year. Information regarding this has been given by RBI. According to official information, the first meeting of the new financial year will be held from April 3 to 5.
Every year RBI holds 6 MPC meetings. In this, repo rates are cut, increased or kept stable. It is through these repo rates that the EMI cost of the general public also increases or decreases.
The Central Reserve Bank has released the schedule of MPC Meetings for FY2024-25.
>> April 3-5, 2024
>> June 5-7, 2024
>> August 6-8, 2024
>> October 7-9, 2024
>> December 4-6, 2024
>> February 5-7, 2025
The last meeting was held in February
MPC meeting was held in February, in which the Reserve Bank did not make any change in repo rates for the sixth consecutive time. At this time the repo rates were kept constant at 6.5 percent. In the February meeting of MPC, 5 out of 6 members were not in favor of change in interest rates.
What is Repo Rate?
Repo rate is the interest rate at which the central bank of India i.e. Reserve Bank of India (RBI) gives loans to commercial banks. On this basis, the EMI of the loan takers is decided. When repo rates increase, banks increase loan interest rates. At the same time, when repo rates decrease, banks reduce loan interest rates.
Why does the repo rate change?
Let us tell you that the Reserve Bank increases and cuts interest rates to control inflation. This is inflation, to stop which central banks all over the world keep increasing or cutting interest rates.
