RBI MPC meeting scheduled from October 4

The Reserve Bank of India may keep the key policy rate i.e. repo rate stable at 6.5% in the monetary policy review meeting to be held this week. If this happens, interest rates for retail and corporate borrowers may remain stable. Let us tell you that amidst the Russia-Ukraine war, the Reserve Bank started increasing the policy rate in May 2002. It was increased to 6.5% in February this year. The repo rate was kept stable in the last three meetings. The three-day meeting of the six-member Monetary Policy Committee headed by Reserve Bank of India Governor Shaktikanta Das will begin from October 4 to October 6. The results of the meeting will be announced on October 6.

What will happen in the MPC meeting this time?
Experts believe that in this time's monetary policy review meeting, the repo rate can be maintained with the existing rate structure. Retail inflation currently stands at a high of 6.8% and the figures for the months of September and October are likely to decline. However, things are still not clear regarding Kharif production. If there are fluctuations in it then the prices may also increase.

Repo rate expected to remain stable in upcoming MPC meeting: Revankar
Umesh Revankar, Executive Vice President, Shriram Finance and Chairman, Finance Industry Development Council (FIDC), told Amar Ujala that in the previous MPC meetings, the policy interest rates in India have not increased much compared to the US. Revankar said, "We hope that interest rates can be kept stable in this MPC meeting also."

Market will keep an eye on Kharif production
Revankar said, "Inflation has increased in the last two quarters. This has happened mainly due to increase in food inflation. Food inflation seems to be under control before the MPC, hence RBI can keep the repo rate stable. Apart from this, the Kharif output will also be affected. Will remain an eye. According to Revankar, on one hand, interest rates in America were increased very quickly. There the interest rates increased by up to five percent. On the other hand, in India, the increase was only up to 250 basis points." According to Revankar, the market is keeping an eye on Kharif production. If Kharif production remains like last year then there is no need to panic. Kharif production has seen an increase in the last five years.

Banks and NBFCs are getting valuable support from RBI.
According to Revankar, the country's central bank i.e. RBI has done its work very well. This has helped banks and NBFCs a lot. RBI has always played the role of a supporting regulator. RBI has helped banks and NBFCs a lot during the NBFC crisis and Covid. There are 15 big NBFCs which RBI is helping like banks. This has increased the confidence of investors. This has increased the confidence of lenders. According to Revankar, India has fewer banks than the US and is much better supervised by the RBI.