No change in interest rate, Raghuram Rajan
Posted on: 07/Jun/2016 12:23:39 PM
Speaking at the RBI monetary policy review meeting today in Mumbai, it was decided that there will be no change with the loan interest rate. Hence, Repo rate which is the rate of interest for short term borrowing will remain the same as 6.5 percent.
Further, CRR rate will remain as 4 percent as usual. Owing to this, there will be no probability of changes with interest rates of housing loan or vehicle loan.
In his note about the same, the Reserve Bank Governor Raghuram Rajan said this move is made keeping in mind the changes in inflation rate that may happen in case of incorporating recommendations of seventh pay commission. Further, there is no change made, considering the price status of crude oil.
