RBI keeps Repo rate at 4% ,Know How it will affect your EMI.

New Delhi, 7/4: In a major development, Reserve Bank of India (RBI) has kept the repo rate fixed at 4% thus sticking to its accommodative monetary policy amidst the Coronavirus pandemic. The reverse repo rate remains at 3.35%.

It is believed that this decision was taken as the COVID-19 cases is on a rise in the Country.

RBI governor Shaktikant Das announced that the real GDP growth for 2021-22 is retained at 10.5% . “The recent surge in COVID19 cases adds uncertainty to the domestic growth outlook amid tightening of restrictions by some state government similarly, ”

The central bank has cut the repo rate by 115 basis points since March 2020 which will help the Indian economy during this Coronavirus pandemic.

This development by RBI means, your EMI rate will be the same.