Government : The Made a Significant Interest Rate Announcement!
According To - Rajkotupdates.News: The Government Has Made a Significant Interest Rate Announcement, An important announcement has recently been made by the Indian government regarding interest rates. Following its Monetary Policy Committee (MPC) meeting in March 2023, the Reserve Bank of India (RBI) announced that the repo rate will remain at its current level of 4%. It is expected that this move by the RBI will have a significant impact on the Indian economy, particularly on borrowing and lending.
The repo rate is the rate at which the RBI lends money to commercial banks. This rate directly influences banks' borrowing and lending rates, which, in turn, affect consumers' interest rates on loans and deposits. In light of the unchanged repo rate of 4%, it is expected that loan intere...