RBI: No change in REPO Interest Ratio
Posted on: 08/Feb/2017 3:56:08 PM
There was a review meeting conducted today in Mumbai on the Reserve Banks of India`s Financial Policy (Wednesday, 8th February).
In this meeting, no changes were made on the short-term loan Interest (REPO) ratio given to the banks. A decision was taken to continue with the prevailing REPO interest ratio at 6.25 percent.
Reverse REPO will continue to be 5.75 percent. It has been estimated that the total domestic production in the country will be 6.9 percent for the year 2016-17.
The Deputy Governor of RBI informed that it is expected that the total domestic production in the year 2017-18 would increase to 7.4 percent.
No changes were made in CRR (Cash Reserve ratio) and this would continue at 4 percent.
With the budget presented last week, it was widely expected that the short-term loan interest or REPO ratio would come down. So, the announcement of status quo (No changes) by the Reserve Bank of India has caused a wide disappointment all over.
