RBI’s Monetary Review meeting from today, expect less relief on EMI

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The monetary review meeting of the Reserve Bank of India is beginning today. The important thing is that this is the first review meeting of RBI governor Shashikant Das's tenure.

According to experts, the challenge on the fiscal market and the rise in crude oil prices makes it not possible to reduce the policy interest rate for the committee. That is, the EMI status of your home loan can remain the same.

Even before the monetary review meeting, the central bank had kept the benchmark interest rate (repo rate) at 6.5 per cent and the reverse repo rate was kept at 6.25 per cent. Let us tell you that the last review meeting was held in December under the leadership of Urjit Patel. After the announcement of the results of the meeting, Urjit Patel resigned from his post. At the same time, Das took charge of the RBI on December 12.

According to Sameer Narang, Chief Economist of Bank of Baroda, the RBI can make policy stance 'neutral' in the meeting. He said, "Apart from a significant reduction in inflation, due to the slowdown in global growth, the Consumer Price Index-based inflation will be in the range of four per cent in 2018-19. This will give the Reserve Bank an opportunity to change the policy stance.

Piyush Goyal will address the board meeting

On February 9, after two days of monetary policy review, Finance Minister Piyush Goyal will address the central board meeting of the Reserve Bank. During this time he will highlight the main points of the interim budget. At the meeting, the government's request for interim dividend for the current financial year will also be considered.

The bank has paid a dividend of Rs 40,000 crore for the current financial year. Let us tell you that in the interim budget on February 1, income tax rebate is given up to five lakh income and an income support scheme has been announced for 12 crore farmers.

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